CRER’s Nate Gautsche recently represented the seller in the sale of 1335 W Taylor, a mixed use property built in 2019 on the Taylor Street Corridor between University of Illinois Chicago (UIC) and the Illinois Medical District. The market setting sale, which closed at significantly stronger metrics that all other recent sales in the area, is a new high water mark for the corridor.
The property featured three 4BR/2BA apartments above 1,580 SF of commercial space leased by Insomnia Cookies. Although newer construction, there was value-add potential with the finishing of the rooftop deck and outdoor areas that would boost residential rents from the significant UIC student tenant base.
Why Invest in Little Italy?
- Illinois Medical District – 560 acres, 29,000 employees and 50,000 daily visitors. Generated $3.4 billion in economic opportunity. Largest medical district in North America.
- Four major hospitals – Jesse Brown VA Medical Center, Rush University Medical Center, Stroger Hospital of Cook County, and University of Illinois Hospital.
- UIC is the largest university in the Chicago Metro Area with 22,000 undergrad and 12,000 post grad students.
- UIC does not have any on-campus housing requirements with only 50% of freshman living in on-campus housing.
Little Italy will continue to attract interest from local investors due to it’s dynamic tenant base, proximity to public transportation and easy access to all that the West Loop, Pilsen and Loop have to offer.
Other recent Mixed-Use Sales by CRER:
1422 N Milwaukee Ave – 23 units in Wicker Park
5220 S Harper Ave – 66 units in Hyde Park
1950 N Milwaukee Ave – 6 unit mixed use in Bucktown
Considering Selling Your Property?
With a proven track record and deep expertise in the Chicago market, Nate Gautsche and the CRER team are well positioned to help you achieve a successful outcome. Contact Nate for a free consultation.
