SVN | Chicago Commercial facilitated the sale of a 12,000-square-foot, brick construction multifamily building in the Pilsen neighborhood of Chicago. The rarely available multifamily building type at 1946 S Racine Avenue has 10 units.
Angelo Labriola and Paul Cawthon of SVN | Chicago Commercial were the sole brokers in the transaction. The asset sold for $1,150,000 and marked their 57th completed transaction in the neighborhood.
“The property was in need of complete rehab from top to bottom and in a neighborhood comprised with mostly 3- to 5-unit buildings,” Cawthon said. “Finding a rare, large, 10-unit building on an oversized lot, all in the heart of Pilsen, was a motivating factor of interest for the asset. The buyers saw great value in the size and location of the asset,”