CRER Sells Two Value-Add Apartment Buildings in Uptown
Steven Rapoport with CRER was the listing broker in two apartment building transactions in the Uptown neighborhood of Chicago that closed this past week: 4431 N Racine (6 units) & 4853 N Kenmore (5 units). Nate Gautsche, also with CRER, represented the buyer of the building located at 4431 N Racine. The buyers for both properties will be completing extensive renovations in order to reposition the buildings as upscale rentals.
Ashley Dillard and Tim Keenan Close on 6,000 SF Industrial Building in Bucktown
On May 16, 2019 2400-10 N. Oakley closed. This property is a single story 6,000 SF industrial building at the corner of Oakley & Fullerton on 12,000 SF lot. The property was sold for land value to buyer intending to have a commercial use that doesn’t require a zoning change. Ashley Dillard represented Holzendorf Elies Building Corp as the seller and Timothy Keenan represented Fulloak 24, LLC as the buyer who will be using the building for commercial automotive use. The property sold for $1,170, 000.00 in an all cash deal.
Sean Kelly Places Buyer in 3,750 SF Multi-Family Infill Development Site
4032 N. Western Avenue, Chicago, IL 60618 is a 3,570 SF multi-family infill development site with B3-2 Underlying zoning that sold for $535,000 cash. Sean Kelly with CRER was the sole broker in the sale of this off market fully entitled town home site with sale including all up-zoning, site recovery, plans and permits. This sale allowed buyer to close on a truly shovel ready transaction that will allow end user to have product ready of a 2020 spring delivery.
Nate Gautsche and Jarid Dietrich Close on Multifamily Building in Ravenswood Gardens
Nate Gautsche represented the seller and Jarid Dietrich represented the buyer in the sale of a 7-unit, value-add multifamily investment in Ravenswood Gardens. The seller wanted a clean, confidential sale and CRER was able to procure a buyer at 100% of the broker opinion of value without disrupting tenants, with no financing contingency and no MLS, Loopnet or CoStar listings.