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Interra Brokers $10.5M Sale of Redevelopment Site in Logan Square
An investor is looking to breathe new life into a vacant CVS situated in Chicago’s Logan Square.
Interra Realty brokered the $10.5 million sale of the 2.28-acre retail site located at 2053. N. Milwaukee Avenue. Offering high visibility near the intersection of Milwaukee, Western and Armitage avenues, the property currently houses a vacant 25,473-square-foot retail building and approximately 125 parking spaces.
Interra Director Colin O’Malley represented the seller, a local real estate owner and investor. “Large infill sites with ample parking in highly coveted neighborhoods like Logan Square don’t come along often, so we were able to generate significant investor interest,” said O’Malley. “The property is ripe for redevelopment that will help revitalize this prominent stretch of Milwaukee Avenue.”
In addition to being near retail, restaurant and nightlife destinations, the location is less than a half-mile from the Western Blue Line station. The buyer plans to redevelop the site under the existing zoning.
