Interra Realty facilitated the $4 million sale of 1935-43 N. Sedgwick Street, a mixed-use property in Chicago’s Old Town Triangle historic district. The property, which had not been sold in nearly 50 years, includes 12 apartments and one 4,000-square-foot, ground-floor commercial space, which is currently vacant.
Joe Smazal, senior managing partner at Interra, represented the buyer, North Park Ventures, as well as the private seller.
“This was a rare sale in a Class A location, with the seller’s hold period underscoring the strength of the Old Town Triangle submarket,” said Smazal. “As further evidence of the property’s desirability, it generated multiple offers despite the vacant commercial space. North Park Ventures has a track record of transforming vintage apartments into market-leading units, and its commercial leasing experience will allow the firm to market the street-level commercial space to a variety of prospective users.”
Built in 1893, the asset includes one one-bedroom apartment and 11 two-bedroom units, many of which feature well-preserved vintage finishes including stained glass, exposed brick walls and decorative fireplaces.
Old Town Triangle is located just south of Chicago’s popular Lincoln Park neighborhood. 1935-43 N. Sedgwick is less than two miles to Chicago’s downtown, easily accessible by car via nearby Lake Shore Drive, and also is served by numerous CTA bus routes as well as the Brown and Purple lines. In addition, the property is within walking distance of Chicago’s lakefront, Lincoln Park, the Lincoln Park Zoo and other attractions, as well as numerous bars, restaurants, shops and services.