November 21, 2024 – Dan Tilsner of Horvath & Tremblay has successfully completed the sale of the Wilson Yard Condominiums in Chicago, Illinois. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $4,202,500.
The Property is located at 4400 N Broadway in Chicago, Illinois. The Property consists of a portion of the ground floor of Wilson Yard (23,290 square feet) and features a national tenant roster at 75% occupancy with value-add potential through lease up of the available spaces. Newly built in 2010, Wilson Yard is a mixed-use development complex with two residential apartment towers, a Target shopping center, and street level retail. The Property is 75% leased and features a number of national tenants, including PNC Bank, Core Power Yoga, AT&T and Subway. PNC Bank has been at the Property since 2011 and currently has 2+ years remaining on their lease followed by four (4), 5-year options. Core Power Yoga has been at the building since 2012 and currently has 2+ years remaining on their lease. AT&T has 2+ years remaining on their lease followed by one (1), 5-year option and Subway has 2+ years remaining on their lease followed by two (2), 5-year options. Additional tenants include Nube’s Ice Cream, a Barbershop, and Holsten Management. Five of the leases call for scheduled annual rent increases throughout the primary lease term or renewal options providing an attractive increase in revenue and a hedge against inflation. Strategically positioned at the corner of a six-way intersection in Uptown Chicago, the Property is convenient to an extensive array of area amenities and landmarks, with proximity to the Wilson CTA station, Lakeshore Drive, downtown, and nearby demand drivers. The Uptown neighborhood provides a densely populated and well-trafficked market, offering an impressive consumer base for the Property’s retailers. The Wilson Yard Condominiums are directly adjacent to an impressive 180,000-square-foot Target shopping center, and in close proximity to other major national retailers including Jewel-Osco, Aldi, Ross, and Dollar Tree, as well as a unique blend of local shops and businesses.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.