CRE N Illinois

$3 million land sale proof that West Loop still booming

3 million land sale proof that West Loop still booming,ph1

The 41,796-square-foot land site located at 2123-2147 W. Madison Street in Chicago’s Near West Side sold after less than three months on the market. Scott R. Maesel and Adam Thomas of SVN Chicago Commercial represented the seller in the transaction. The land, currently zoned to permit 104 units, sold for $3,100,000 to an all-cash buyer.

“With the area in and around the United Center seeing a significant uplift in development activity over recent years, this transaction’s achieved price and quick time to close provides proof of the continued demand in today’s current market conditions,” said Maesel.