SVN Chicago Commercial closed the $2.4 million sale of the former Precious Blood Church & School, a 50,500-square-foot, two-building asset at 2401 W. Congress Parkway in Chicago’s Tri-Taylor neighborhood.
Positioned within a Transit-Oriented Development (TOD) zone adjacent to the Western Blue Line station, the property presents a compelling opportunity for residential redevelopment.
The asset was acquired by a local developer with an active presence in the neighborhood. Plans call for the adaptive reuse of the existing church and school structure into a four-story residential building, while the adjacent rectory site will be redeveloped into a new five-story residential property. Upon completion, the project is expected to deliver more than 50 new residential units to the Tri-Taylor community.
Paul Cawthon and Angelo Labriola of SVN Chicago Commercial led the transaction and completed the full zoning approval process prior to closing, positioning the project for streamlined execution.
