Chris Creed Acquires Mixed-Use Property In Jefferson Park For $2.6M

A mixed-use property located at 3551 S Western Avenue in Jefferson Park was recently sold. The property consists of 3 retail storefronts and 14 bachelor apartments, totaling approximately 8,000 square feet. The sale price for this transaction was $2,625,000, resulting in a price per square foot of $328.12. The buyer in this transaction was Chris Creed, while the seller was Barbaras Esteghball. The deal was facilitated by brokers Daniel Hirth and Elijah Suval from the Hirth Group.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $2,625,000
• Square Footage: 8,000
• Address: 3551 S Western Avenue
• Market: Jefferson Park
• Buyer: Chris Creed
• Seller: Barbaras Esteghball
• Brokers: Daniel Hirth, Elijah Suval

This transaction was an all-cash transaction with a 30-day close. The price per square foot of the building was $328, and the current cap rate is 5.10%. Notably, this sale achieved the second-highest price per square foot for a mixed-use building within a mile and a half radius in the last three years.