CRER Managing Partner Nate Gautsche, CCIM is pleased to announce the successful sale of 4528–4538 W. Fullerton Avenue in Chicago’s Hermosa neighborhood for $2,200,000. The buyer, PrimeCare Health, is a community-focused, mission-driven healthcare organization. PrimeCare plans to demolish the former church building and construct a new two-story health center that will serve as their flagship headquarters and care facility, bringing 22 exam rooms and a full suite of primary care, behavioral health, dental, and social services to the Northwest Side.
The transaction was anything but straightforward. CRER was engaged by an east coast lender whose borrower had fallen into default on the property. The building had been vacant and had accumulated a series of code violations, including deteriorating facade conditions that resulted in a serious injury to a pedestrian in late 2024. Navigating a short sale with a distressed seller while simultaneously coordinating with their lender required careful negotiation and patience at every stage of the process.
To preserve and protect the asset during the sales process, CRER stepped in to provide interim property management, stabilizing the property and mitigating further deterioration while the transaction was being negotiated and closed. This kind of end-to-end engagement, from asset management through disposition, is where CRER’s integrated platform consistently adds value for lender and institutional clients in distressed situations.
Despite the complexity, CRER successfully identified PrimeCare Health as the ideal buyer and navigated the deal through to closing, delivering a meaningful community outcome in the process. PrimeCare’s new facility will bring expanded access to healthcare for Northwest Side residents, with a location specifically chosen for its walkability and proximity to public transit. The organization expects to complete construction and open the new center in late 2027.
About the Property
- Address: 4528–4538 W. Fullerton Ave., Chicago, IL 60639
- Sale Price: $2,200,000
- Building Size: 55,440 SF
- Stories: Two
- Former Use: Religious / Daycare Facility
- Neighborhood: Hermosa
- Planned Use: PrimeCare Health Headquarters & Community Health Center
CRER’s Distressed Asset & Receivership Capabilities
This transaction is a strong example of CRER’s ability to manage complex, distressed situations for lender clients from start to finish. Our dedicated Receivership and Property Management divisions allow us to step into difficult situations, stabilize assets, and deliver results — whether the goal is an orderly disposition, note sale, or community-oriented redevelopment.
CRER has been engaged as receiver or asset manager on properties throughout the Chicago metropolitan area, bringing institutional-level management and brokerage expertise to situations that require more than a standard sales approach.
If you are a lender, servicer, or asset manager with a distressed or non-performing asset in the Chicago market, contact Nate Gautsche to discuss your situation confidentially.
Other Recent Land Sales by Nate Gautsche & CRER
- Nate Gautsche lists and sells 40,000 SF Humboldt Park Land Site for a to be announced development by a non-profit organization.
- Nate Gautsche with CRER represented the buyer in the acquisition of 1.02 acres in Pullman adjacent to Chick-Fil-A to develop two stand-a-lone drive-thrus for Dunkin’ and Jimmy Johns.
- Nate Gautsche represents seller in two Wicker Park development sites bringing 40 apartments and ground floor commercial to underutilized Ashland Ave site.
- CRER successfully represented the seller in the sale of a Bucktown development site that will deliver 56 apartments.
- CRER represents the buyer in acquiring a 16,000 SF development site in Chicago’s highly sought after Lakeview neighborhood.
Rendering courtesy of MDT Architecture. Renderings are preliminary, not final.
