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Transwestern Brokers Sale of Vacant River North Building
Transwestern arranged the sale of 625 N. Kingsbury St., a vacant, single-story, 5,370-square-foot building in Chicago’s River North.
Transwestern Vice President David Kimball represented the seller, an entity controlled by Urban Innovations, in the transaction. The property sold for $2.25 million, approximately $419 per square foot. The buyer, a local private investor, plans to convert the property into a Top Dog Daycare & Hotel and expects to open this summer. Mark Kishtow of Jameson Commercial represented the buyer in negotiations.
“Opportunities to acquire a small-format, stand-alone building with dedicated parking in River North are exceedingly limited,” said Kimball. “625 N. Kingsbury St. presented a highly distinctive profile that resonated with an owner-user seeking both visibility and functionality in a premier downtown location.”
The 625 N. Kingsbury St. purchase also includes an adjacent 24-space surface parking lot. The property is located near the Chicago River and is within walking distance of public transportation, parks and neighborhood amenities.
