Michael Weaver and Sean Mason of CRER, Inc. brokered a $3.5MM off market sale leaseback with Byline Bank to Mavrek Development at the corner of Belmont and Southport. The mixed used development will feature eight luxury 2- and 3- bedroom residential condos for sale with garage parking. Byline Bank signed a long term lease to remain as the ground floor commercial tenant.
The development is located just across the street from a proposed five-story, 24-unit, transit-oriented rental project replacing the single-story former Flat Top Grill building. Also nearby is the Tied House addition to Scubas Tavern at 3159 N. Southport Avenue and a four-story TOD at 3334 N. Southport Avenue.