CHICAGO, IL - Sperry Van Ness Chicago Commercial has completed the sale of a 12-unit multifamily building located at 5300 W Addison Street in the Portage Park neighborhood of Chicago. Jack Edgar, Jr., Jim Sears and Reid Bennett of Sperry Van Ness, LLC represented the seller in the transaction. The 10,250 SF apartment complex sold for $1,050,000.
"This was the first time this property was sold since it was constructed in 1966 by the seller's family, who remained as operators throughout the years. This property offers great curb appeal with a unique architectural design not commonly thought of when considering low-rise, walk-up apartment buildings in the City neighborhoods. Coupled with a diversified unit mix and solid tenant base, we knew that our marketing had to focus on finding a buyer who would appreciate the care and quality the family left on the property." Edgar 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