July 13, 2021 – Ryan Link of Horvath & Tremblay has successfully completed the sale of a three-parcel development site in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $210,000.
The three-parcel development site is located at 5185-5823 W Chicago Avenue in Chicago, Illinois. The development site is situated on three adjacent tax parcels on a total of 0.454 acres. The Property is located in a B3-2 Zone (Community Shopping District), which allows for a mix of shopping centers, large stores, and retail storefronts with apartments permitted above the ground floor. The B3-2 Zone allows for more types of businesses than B1 and B2 districts. The Property is located on the two-lane W Chicago Avenue in Chicago’s Austin neighborhood located on the city’s West Side. Austin is Chicago’s second largest “Community Area” by population and the second largest geographically. The area is well served by Chicago’s public transportation system, the property is less than 0.7-miles from the Green-Line’s Austin Train Station. Additionally, the property is just 7-miles from Chicago’s Central Business District and is located along the city bus line, Bus Line 66 stops less than 200 feet from the property. The Property is located just under 2-miles from the region’s primary highway – Interstate 290.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.