The team at Peak Realty Chicago (PRC) has closed a Logan Square six-flat for $2.765 million, the highest priced per-unit sale for a six-unit property in the submarket according to CoStar reports.
Located at 2852-54 W Shakespeare Ave., the six-flat was purchased by a private, local real estate investor for $2,765,000. Gut renovated within the past five years and sitting on an extra wide lot, this residential property was turn-key at delivery.
“Acting as true consultants, we build strong relationships with our clients and our ability to reach a significant buyer pool allowed us to hit the purchase price our seller wanted without having to list on market,” says Oren Pollack, VP for PRC and the broker for the sale.
The three and four-bedroom condo-quality apartments feature open concept kitchens with quartz countertops and stainless appliances, wide-plank oak floors, in-unit washer/dryers and large master bedrooms. Additionally, all tenants have access to shared porches, a large open yard and four garage parking spaces. The property is ideally located walking distance for the blue line commuters and close to the bustling businesses key to Logan Square’s appeal.
“We ensure owners’ specific approach to their asset is considered, and often that includes advice on improvements that can help boost rents and maximize their operating income. By strategically leasing the property and capitalizing on its location, unique unit types and shared outdoor space, we were able to achieve a great sales price,” adds Pollack.
At the time of sale the building was managed by PRC’s affiliate, Peak Properties, LLC.
