CBRE arranged the sale of a 28,150-square-foot redevelopment site in Chicago’s Wrigleyville submarket for $6.3 million, drawing more than 12 offers in a competitive marketing process.
A joint venture between SNS Realty Group and North Park Ventures acquired the property at 3233-47 N. Sheffield Ave. and subsequently secured a zoning change to B2-5, clearing the way for a five-story, wood-frame apartment building with 99 units.
CBRE’s Tom Svoboda and John Jaeger represented the seller in the transaction.
The site was previously home to Torstenson Glass Company, a family-owned manufacturer that operated there for more than 116 years before selling its business and retaining ownership of the real estate. The property sits in the Wrigleyville submarket of Lakeview, near Wrigley Field and the CTA’s Belmont station, an area that has seen sustained residential development activity in recent years.
