Multifamily N Illinois

Mixed-use property sells for $3.5M off market

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Chicago Real Estate Resources, Inc. brokered a $3.5 million, off-market sale to to Mavrek Development. Michael Weaver and Sean Mason handled the transaction for the property, located in Chicago’s Lakeview neighborhood. The sale-leaseback transaction has Byline Bank signing a long-term lease to remain as the ground floor commercial tenant in the new building that will replace the current, stand-alone bank building.

The mixed-used development at 3150 N. Southport Avenue will feature 13 luxury 2- and 3-bedroom residential condos ranging in size from 1,350 to 2,500 square feet. Amenities include private outdoor space, attached garage parking and market-leading finishes.