A joint venture partnership between Stocking Urban LLC and Next Realty has completed the acquisition of 838 – 846 W. Altgeld, a 12-unit multifamily property in the North Side’s Lincoln Park neighborhood. The seller was a longtime private owner. The purchase price was undisclosed.
The two-building property was completed in 1915 to house workers from the nearby Finkl Steel plant in Chicago. The buildings were purchased and renovated in 1970 by the current seller.
Stocking Urban and Next Realty plan to modernize the units to create more functional living spaces, while maintaining their existing charm and marketability. The modernization program will be undertaken in phases, as units are vacated.
“838-846 W. Altgeld presents a very rare opportunity to acquire and reposition a unique property with great bones in an A+ location,” says Stocking Urban’s Nick Stocking.
The Altgeld property is the first joint acquisition between the two companies.
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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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