Matt Feo Of Essex Realty Group Acquires Development Site On North Milwaukee Avenue In Portage Park For $4.5M&

Matt Feo of Essex Realty Group, Inc recently closed a $4.5 million+ development opportunity in Chicago's Portage Park neighborhood. The property, located at 4029-4037 & 4047-4055 North Milwaukee Avenue, is a development site with a total building square footage (BSF) of 25,125. The price per building square footage (PPBSF) is $180. The area is witnessing a boom, with six new residential and retail developments at the six corners. The purchaser plans to develop a mixed-use property on the site.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,525,000
• Address: 4029-4037 & 4047-4055 North Milwaukee Avenue
• Market: Portage Park, Chicago

Essex Realty Group, Inc's Matt Feo acted as the broker in this deal. As the area's market continues to grow, Feo successfully facilitated the purchase of this prime development site for the client. The buyer sees great potential in the area's booming real estate market and plans to create a mixed-use development on the property.