January 24, 2025 – Andrew O’Connell of Horvath & Tremblay has successfully completed the sale of seventeen (17) unit mixed-use building in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,200,000.
The mixed-use investment property is located at 2456-2458 W Diversey Avenue in Chicago, Illinois. The four-story, brick building contains seventeen units comprised of one (1) commercial unit, three (3), Studio units, ten (10), 1-Bedroom/1-Bathroom units, and three (3), 2-Bedroom/1-Bathroom units with 14,850 square feet of total gross area on a 0.15-acre corner parcel. The Property also features an on-site laundry facility and three (3) surface parking spaces. The Property offers significant upside potential through the lease up of the vacant ground floor commercial unit. The versatile space benefits from excellent vehicular and pedestrian traffic with convenient access to the area’s major roadways and public transportation. The current residential rents at the property are below market. The opportunity exists to increase rents to market rates in a high demand, supply constrained market. The property is well-located at the intersection of N Campbell Avenue and W Diversey Avenue, a primary roadway that is close to area schools and Interstates 90 and 94, with convenient access to public transportation and numerous retail amenities. Property enjoys close proximity to nearby public transportation. The Property is positioned along the bus-line with a stop in front of the Property at Diversey & Campbell, and another route just 500 feet away at N Western, Elston and Diversey. The Property is 1.1-miles from the California CTA Station (Blue Line), 1.9-miles from the Diversey CTA Station (Brown Line), and with service along the Blue line, and 1.7-miles from the Clybourn Metra Station (UP-N & UPNW Lines). The Property is also positioned in between Chicago’s O’Hare International Airport and the Loop, and is 2-miles from DePaul University.
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.