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Chicago & Midwest  + North Side  + Retail  | 

Cawley Brokers Sale of TOD Property in Lakeview 

Cawley Chicago completed the sale of a portfolio of three adjacent properties at 1744-1754 W. Addison St. in Chicago’s Lakeview neighborhood. Located at the six-way intersection of Ravenswood Avenue, Addison Street and Lincoln Avenue, the property currently consists of a retail strip center and two freestanding commercial buildings.  

Managing principal Zach Pruitt and VP Nicholas Schaefer represented the seller, a family trust. Given its hard corner presence and proximity of less than 350′ from the Addison CTA Station, Cawley Chicago positioned the offering as a Transit-Oriented Designation (TOD) redevelopment opportunity, qualifying for the maximum threshold of benefits available within the TOD Ordinance.  

The buyers, a collaboration of Stocking-Urban & Macon Construction, rezoned the property to make way for their plans of a new five-story TOD development, including 54 apartments. With construction expected to commence later this year, the project is slated for completion by summer of 2023.  

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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 13-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 15-20 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).

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