Chicago & Midwest + North Side + Hospitality | May 3, 2023

SVN Chicago Commercial helped arrange the sale of a mixed-use property in Chicago's Andersonville neighborhood that includes Reza's Restaurant

SVN Chicago Closes Sale on Andersonville Commercial Corridor

Wayne Caplan of SVN Chicago Commercial helped secure the building sale at 5255-59 N Clark St. in Chicago’s Andersonville neighborhood. The asset is a 9,500-square-foot mixed-use building with 6,000 square feet of ground-floor commercial space currently operating as Reza’s Restaurant. The sale price wasn’t disclosed.

Reza’s Restaurant plans to downsize its space, providing future opportunities in the adjacent ground-floor space for the new owner. Chicago-based GW Properties and Howard Natinsky have acquired the property and will re-lease the remaining ground-floor retail space and renovate the upper floors into apartments.

“This is a generationally great piece of real estate located on one of the best corners in one of the most sought-after commercial corridors in Chicago,” said Caplan, who was the sole broker in the transaction. “There is always demand for property on Clark Street in Andersonville from tenants and investors alike.”

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SVN Chicago Commercial's Caplan

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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