Old Town Triangle Mixed-Use Trades for First Time in Five Decades
Interra Realty brokered the $4-million sale of 1935-43 N. Sedgwick St., a mixed-use property in Chicago’s Old Town Triangle historic district. The property, which hadn’t been sold in nearly 50 years, includes 12 apartments and one 4,000-square-foot ground-floor commercial space, which is currently vacant.
Joe Smazal, senior managing partner at Interra, represented the buyer, North Park Ventures, as well as the private seller.
“This was a rare sale in a Class A location, with the seller’s hold period underscoring the strength of the Old Town Triangle submarket,” said Smazal. “As further evidence of the property’s desirability, it generated multiple offers despite the vacant commercial space.
“North Park Ventures has a track record of transforming vintage apartments into market-leading units, and its commercial leasing experience will allow the firm to market the street-level commercial space to a variety of prospective users,” he continued.
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).