Multifamily N Illinois

Greenstone brokers sale of mixed-use West Town property

Greenstone brokers sale of mixed-use West Town property,ph1

Greenstone Partners successfully sold 1502 W. Chicago Avenue, a 4,80- square-foot, two-tenant commercial vertical subdivision. Located in Chicago’s West Town neighborhood, the property is positioned on the northwest corner of Chicago and Greenview Avenues.

The investment features net leases with RE/MAX and Lotus Center and the purchaser was attracted to the investment due to the dense urban infill location, replaceable rents and long-term tenancy. Greenstone exclusively represented the seller, a Chicago-based developer, and procured the Texas-based purchaser. This is the purchaser’s first Chicago acquisition.