November 20, 2023 – John Preston of Horvath & Tremblay has successfully completed the sale of a three-unit multi-family building in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $840,000.
The multi-family building is located at 6642 N Newgard Avenue on the North Side of Chicago, Illinois. The three-story, brick building contains three (3) total units made up of one (1) 2-Bedroom/2-Bathroom unit and two (2), 2-Bedroom/1.5-Bathroom units with 4,200 square feet of living area in 4,332 square feet of total gross area on a 0.08-acre parcel. The Property also features on-street parking in the front of the Property and a 2-Car garage in the rear of the Property. The Property features a new roof overlay with new eves, and a new shingle roof on the garage (all completed in 2018). The Property also has recently been tuckpointed and had the chimney repaired. Additionally, all bathrooms were renovated at the Property with new and modern light fixtures, tiles, and walk-in showers. The first-floor unit now has two full bathrooms, while the second-floor and third-floor units have an additional half-bathroom. The third-floor unit also features new mechanicals (furnace and air conditioning). The Property is within 0.5-miles of high-end dining and entertainment venues such as Le Piano in the Glenwood Art District, which also features long standing theaters Life Line Theater, and Rhapsody Theater. Additionally, one can find Target, Walgreens, CVS, Devon Market (supermarket), Starbucks, Dunkin’, Raising Cane’s, Blaze Pizza, and other retailers and banking institutions. The Property enjoys close proximity to nearby public transportation. The Property is a short walk from the W Pratt & Greenview bus stop, the Clark & North Shore bus stop and Sheridan & North Shore bus stop, 0.5-miles from the Loyola and Morse CTA Stations with service along the Red line, and 0.8-miles from the Rogers Park Metra Station. The Property is also located 0.5-miles from the Loyola University Campus, and 3.5-miles from Northwestern University Evanston Campus.
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.