Interra Realty, a Chicago-based commercial real estate investment services firm, recently brokered the sale of a three-building, 33-unit mixed-use portfolio in the Pilsen neighborhood on Chicago’s West Side for $4.18 million. Jeremy Morton, Director at Interra Realty represented both buyer and seller in this transaction.
The trio of properties – 1924 S. Throop St., 2301–2303 S Oakley Ave., and 2300 W 23rd St.– have undergone some recent capital improvements yet still offer value add potential to the new owner; especially 1924 S Throop (pictured), located two blocks from Thalia Hall music venue which is 43% vacant currently.
“We are seeing high demand for value add properties with significant revenue potential as opposed to turnkey stabilized buildings,” said Morton.” We marketed these assets over four weeks and received eight competitive bids along with over two dozen property tours which speaks volumes about their desirability”.
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