SVN Chicago Commercial has announced the successful sale of an 80,000-square-foot land parcel located at 2221 W Oakdale Avenue in Chicago’s Roscoe Village neighborhood. The site, featuring approximately 300 feet of Chicago River frontage, was sold for $5.95 million.
The buyer, developer Zev Salomon of ZSD Corp., intends to transform the long-vacant property into a 35-unit row home community to be called “RiverWard Row Homes.”
SVN Chicago Commercial’s Wayne Caplan and Adam Thomas represented the seller in the transaction. Matthew Lucas of Accretive, LLC, along with Kale Realty, advised the buyer.
“There are only so many developable sites situated on the Chicago River, and they are always in demand from all kinds of developers,” said Caplan. “The deal took more than a year to close due to many time-consuming obstacles that the purchaser had to overcome, including a zoning change and coordination with the Army Corps of Engineers on river access, but ultimately, they got it across the finish line.”
