April 7, 2023 – John Preston of Horvath & Tremblay has successfully completed the sale of a Redevelopment Property in Chicago, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,950,000.
The redevelopment property, located at 4848 N Clark Street in Chicago, Illinois is comprised of a three-story building containing 12,231 square feet on two adjacent parcels of land totaling 0.26-acres of land. The Property also features a four (4) car garage and on-site parking for an additional 8-10 vehicles. The parcel benefits from the versatile C2-2 Motor Vehicle Related Commercial District which allows for a variety of uses including commercial/retail, liquor stores, warehouses, and auto shops on the ground floor and residential units above the ground floor. 4848 N Clark Street is well-located in a densely populated mixed-use (commercial and residential) neighborhood one block from N Ashland Avenue, 0.1-miles from W Lawrence Avenue and 0.4-miles from W Foster Avenue (US Highway 41), three of the area’s primary commercial corridors. The Property also offers convenient access to the Argyle & Lawrence L-Stations (0.6-miles), the Ravenswood Metra Station (0.5-miles), and numerous bus routes within walking distance. The Property is situated less than 1.5-miles from Montrose Beach and Foster Beach on Lake Michigan. 4848 N Clark street is also just 2.3-miles from Loyola University Chicago.
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.