SVN Chicago Commercial closed the sale of a 6,200-square-foot industrial building at 1802-1806 W. Chicago Ave., in Chicago’s highly West Town neighborhood.
The property sold for $1.325 million and is slated for an adaptive reuse conversion to residential — capitalizing on the growing demand and limited supply of new housing options in the area.
Tim Rasmussen, CCIM, and Marcus Sullivan of SVN Chicago Commercial represented the seller in the transaction.Located in one of Chicago’s most vibrant submarkets, the property’s adaptive reuse reflects growing investor demand for creative redevelopment opportunities. With tight residential inventory across the city, West Town remains a hotspot for forward-thinking projects like this.
