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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.
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- ◦Sale/Acquisition
