Chicago Real Estate Resources, Inc. (CRER) facilitated the sale of 2333 W. Lunt Avenue, a 17-unit multifamily property located in the West Ridge neighborhood on Chicago’s North Side. Becovic Residential acquired the property for an undisclosed sum.
“This is the first time this property has been available in 50 years. Despite the global pandemic, we were able to negotiate and close on this unique property with very minimal disruption to the tenants in the building,” said CRER senior director Nate Gautsche. “Becovic Residential performed as promised and made the transaction as smooth as possible under the circumstances. The combination of jumbo units, on-site garage parking, irreplaceable location, stable cash flow and future upside with light rehab made this an attractive opportunity for my client.”
Upon deciding to sell this property, ownership hired CRER to take over management and stabilize the asset prior to sale. CRER’s management team improved operations, addressed deferred maintenance and cleared up existing violations to ensure a smooth transaction.
Located steps from Indian Boundary Park, Warren Park and the Rogers Park Metra Station, this well-positioned apartment building offered stable cash flow with the ability to add value with light rehab.