August 24, 2021 – John Preston of Horvath & Tremblay has successfully completed the sale of a six-unit mixed-use building in Chicago, Illinois. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $1,275,000.
The mixed-use investment property is located at 2559 W North Avenue in Chicago, Illinois. The three-story building contains one (1) commercial unit at street-level and five (5) residential units on the 2nd and 3rd floors, consisting of one (1) 1-Bedroom/1-Bathroom unit, three (3) 2-Bedroom/1-Bathroom units and one (1), 3-Bedroom/1-Bathroom unit. The residential units were rehabbed in 2016 and feature stainless steel appliances, exposed brick finishes, individual HVAC systems, in-unit laundry, and high ceilings. The Property is well-located on the corner of W North Avenue and N Rockwell Street, with convenient access to area highways, public transportation (Pace Bus Line and the CTA Blue Line) and numerous retail amenities. The Property is conveniently located less than 0.75-miles from both the Western “L” Station and the Damen “L” Station on the CTA Blue line. Additionally, the Property is located adjacent to the North Avenue and Rockwell Street Bus Stop, and is 1.3-miles from Interstate 90 and 3-miles from North Lake Shore Drive (US Route 41).
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.