CHICAGO–March 4, 2014–Sperry Van Ness Chicago Commercial has completed the off-market sale of a 16-unit multifamily building located at 3505-07 N Pine Grove/546-48 W Cornelia Avenue in the Lakeview neighborhood of Chicago. Dawn Overstreet and Reid Bennett of Sperry Van Ness, LLC represented both the buyer and seller in the transaction. The 18,150 SF apartment complex sold for $3,535,000.
“The property is located in a prime Lakeview location, less than one block from the lake, and had been owned and managed by the same proprietor for almost 50 years. Rental properties on the near north side of Chicago are in short supply, and this ideally-located apartment building offered a long-term upside for the new owners,” Overstreet said.
Sperry Van Ness, LLC is a national full-service commercial real estate advisory firm located at 940 West Adams Street in downtown Chicago. 312.676.1866. For more information, please visit www.svnchicago.com.
About Sperry Van Ness International Corporation
Sperry Van Ness International Corporation, a commercial real estate brokerage franchisor, is one of commercial real estate’s most recognizable brands, based on the annual Lipsey Survey. The Sperry Van Ness® organization includes more than 175 locations in 36 markets. With headquarters in Irvine, Calif., Sperry Van Ness Commercial Real Estate Advisors provide brokerage, tenant representation, consultation, asset management, property management, leasing, accelerated marketing and auction services. Sperry Van Ness advisors represent clients in office, multifamily, retail, industrial, self-storage, hospitality, marina and land transactions. All Sperry Van Ness offices are independently owned and operated. For more information, go to www.svn.com.
Sperry Van Ness, LLC | Chicago Commercial