Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $3.45 million sale of a nine-unit mixed-use property in Chicago’s Lakeview neighborhood.
“There has been an uptick in deal velocity as we come up on the end of the year, particularly among local investors with a long-term-hold strategy,” said Smazal. “The strong demand for well-located, middle-market apartment and mixed-use buildings is evidenced by the fact that we placed this property under contract within two weeks of executing a listing agreement and closed 45 days thereafter.”
The primary building is located at 2852–56 N. Southport Avenue, with an adjacent coach house at 1411 W. George Street. The Southport property includes one one-bedroom unit, four two-bedroom units and one three-bedroom unit. The coach house features one one-bedroom and one two-bedroom unit. An approximately 4,600-square-foot ground-floor retail unit offers exposure along both roads. An outdoor dining area and beer garden are located within.
2852-56 N. Southport and 1411 W. George have access to multiple dining, shopping and entertainment options along Ashland, Southport and Lincoln avenues. The property is served by the CTA’s Wellington Brown Line station and multiple CTA bus routes.
A popular neighborhood on the North Side, Lakeview is Chicago’s most populous community area. Packed with two-flats, courtyard buildings, and single-family homes, Lakeview and its well-known pocket neighborhoods like Wrigleyville and Boystown have something to offer for nearly every Chicagoan. Lakeview manages to balance local charms like coffee shops and boutiques with tourist draws like the famous Wrigley Field, where you can grab a hot dog at a Cubs game and a reasonably priced beer at a nearby bar. What Lakeview lacks in pomp and circumstance, it makes up for in affordability and friendliness–it’s the perfect Chicago neighborhood to sample locally owned restaurants, hit the beach, or spend an afternoon soaking up the sun at one of its many local parks.
