December 12, 2024 – John Preston of Horvath & Tremblay has successfully completed the sale of a fifteen-unit mixed-use property in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,450,000.
The property is located at 6334-40 N Clark Street in Chicago, Illinois. The three-story building contains three (3) retail units at street-level and twelve (12) residential units on the 1st and 2nd floor. The property has 10,428 square feet of gross living area in 12,000 square feet of total area on a 0.26-acre parcel with a detached four bay garage, and ample space on site to install a basement laundry facility. The Property has three (3) street level retail units, leased by Gracie O’Malley’s, a popular Chicago Bar with three downtown locations (Edgewater, Wicker Park, and Six Corners), Sauce and Bread Kitchen (SBK), and Co-op Sauce. Sauce and Bread Kitchen (SBK) owns and operates Co-op Sauce and the two adjacent suites are on the same lease. The apartments are comprised of twelve (12) residential units consisting of one (1) Studio unit, five (5), 1-Bedroom/1-Bathroom units, three (3), 2-Bedroom/1-Bathroom units, two (2), 3-Bedroom/2-Bathroom units, and one (1), 4-Bedroom/2-Bathroom unit. The Property is well-located along N Clark Street, one of the area’s primary commercial corridors, and is 200 feet from the intersection with W Devon Avenue, a major east-west artery. The Property provides convenient access to area highways, public transportation, and numerous retail amenities. The Property is also located 0.6-miles from Loyola University Campus and the Loyola Transit Station and is 1-mile from the shores of Lake Michigan. Edgewater is a north side neighborhood in Chicago, located on the coast of Lake Michigan. With miles of beaches, green spaces, and stunning views of Lake Michigan, the historic neighborhood is a haven for artists, foodies, and theatre lovers. The combination of a rich history combined with cultural assets and convenient public transit makes it a unique gem in the city.
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.