Multifamily N Illinois

Value-add Lincoln Park mixed-use asset sells

Value-add Lincoln Park mixed-use asset sells,ph1

The four-unit, mixed-use building at 951 W. Armitage Avenue in Chicago’s Lincoln Park sold for $1,472,500. Craig Franzen and Cody Doran of SVN Chicago Commercial represented the seller in the transaction.

“Seller was motivated to dispose of the asset to achieve their estate planning goals,” Doran said. “951 Armitage’s current condition provides the new owner a great value add opportunity.”

“The client wanted to find an investment that required less responsibility and maintenance, so the client reached out to SVN Chicago for a solution,” Franzen added.