@properties Commercial recently brokered the sale of a four-unit new-construction apartment building at 1261 N. Honore in Chicago’s Wicker Park neighborhood for $1.6 million.
Kevin Rocio, real estate advisor for @properties Commercial, represented the building’s developer in the bank-approved short sale. Rocio said the building was under contract within 15 days, after receiving more than 30 showings and a dozen offers. The sales price was $125,000 above the minimum approved by the project’s lender, he said.
Rocio took over the listing after another broker failed to find a buyer.
Built in 2007, and originally marketed as condominiums, the building includes four duplex three-bedroom, 2.5-bath units with high-end finishes, including Viking, Sub-Zero and Bosch appliances and Italian cabinetry. The building also features four garage parking spaces, one outdoor space, two decks per unit and a common deck on top of the garage. The building was 100 percent leased at the time of sale, with rents ranging from $2,500 to $2,650 per month.
