The North Avenue Collection, located at 939 W. North Avenue in the Clybourn Corridor district, will soon be up for auction. Real estate services firm CBRE and auction house Ten-X have been hired by the property’s owner to facilitate the sale, as reported by Crain’s.
CBRE’s team of Blake Johnson, David Knapp, Arthur Johnson and John Saletta are leading the marketing efforts for this highly sought-after property.
Scheduled for February 20-22 with an opening bid of $5.5 million, it is expected that this property will sell for around $20 million – a significant decrease from its previous purchase price of $89 million in 2004.
Currently boasting a retail section with only 15% occupancy out of its total 95,000 square feet space available and occupied medical office and fitness spaces totaling approximately104 ,000 square feet at an impressive rate of88%, The North Avenue Collection also includes a parking structure offering350 spots as part of its listing details.
This Clybourn Corridor office-retail building is generating considerable interest among potential buyers due to its prime location and attractive features. Stay tuned on Connect CREfor updates on this exciting upcoming auction event.
