Multifamily N Illinois

33 Realty sells Uptown mixed-use

33 Realty sells Uptown mixed-use,ph1

33 Realty has arranged the $3,300,000 sale of 4751-4759 N. Sheridan Rd in Chicago’s eclectic Uptown neighborhood. Completed in 1908, this 23,000-square-foot, mixed-use property is comprised of 14 apartments and five commercial spaces.

Despite 78 pending code violations, the property garnered major interest from the investment community and ultimately traded at a 5.06 percent cap rate and a 10.5 gross rent multiplier. A foundation purchased the property from the estate of its longtime owner. John Meyer of 33 Realty was the sole broker in the transaction.