May 25, 2022 – John Preston of Horvath & Tremblay has successfully completed the sale of a seven (7) unit mixed-use building in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,465,000.
The mixed-use investment property is located at 2922-24 W Irving Park Road in Chicago, Illinois. The two-story building contains seven (7) total units with one (1) 3-Bedroom/1-Bathroom unit, five (5) 2-Bedroom/1-Bathroom units, and one (1) commercial unit in 10,000 square feet of gross area, on a 0.15-acre parcel. The Property is well-located in a densely populated residential neighborhood on Irving Park Road (Illinois Route 19), with convenient access to both local and regional transportation. The Property is situated less than three miles from beautiful Lake Michigan, and is located in Irving Park East, an up-an-coming Chicago neighborhood with a commercial corridor including retail, restaurants, entertainment, and public transportation. Additionally, the Property is just 1.2-miles from the Irving Park Brown Line stop (CTA) commuter rail station with services to downtown Chicago, only 6 miles away. The Property is also 1.5-miles from the Irving Park Metra stop (Union Pacific – Northwest), which provides transportation to downtown Chicago to the south and Harvard, Illinois to the North. Commute time to downtown via the Irving Park stop is just 13 minutes.
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.