CRER (Chicago Real Estate Resources, Inc) announces the sale of a former industrial building in the heart of Chicago’s Logan Square neighborhood.
Sean Mason, Director with CRER recently represented the seller of a property located at 2614 N. California Ave Chicago, IL 60647. The property traded for $1,350,000.
The property consists of a one-story, free-standing, lattice truss masonry building spanning three highly visible city lots.
“Despite ongoing economic headwinds, this deal demonstrates strong investor appetite for well-located, quality assets,” says Mason.
Multiple competitive offers were secured from buyers with a variety of adaptive reuse or redevelopment concepts. Ultimately, the sellers chose an offer from a local developer with yet-to-be-disclosed plans that will conform with the existing zoning.
Contact Sean if you need help buying or selling an industrial/investment property in Chicago or the surrounding suburbs. If you are interested in better understanding what your property could sell for, please contact Sean for a free valuation report including financial analysis and comparable sales. SeanM@crer.com | cell: 773-412-7582