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West Loop Parcel Sells After Short Time on the Market

Demonstrating the growing appeal of the West Loop for development, a 41,796-square-foot land site at 2123-2147 W. Madison on the Near West Side sold after less than three months on the market. The land, currently zoned to permit 104 residential units, sold for $3.1 million to an all-cash buyer.

Scott R. Maesel and Adam Thomas of SVN Chicago Commercial represented the undisclosed seller.

“With the area in and around the United Center seeing a significant uplift in development activity over recent years, this transaction’s achieved price and quick time to close provides proof of the continued demand in today’s current market conditions,” said Maesel.

The parcel sale comes on the heels of Newcastle Limited’s acquisition of another West Loop property, the 93-unit Jackson Throop Place, for an undisclosed sum.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition