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.”