SOLD
Shapack Partners Acquires Development Site In River West, Chicago For $25M
509 North Union Avenue
Development Site
70,000 SF
70,000 SF
Sold 1 year ago
Summary
Sale
ILLINOIS
Development Site
70,000 sqft
Shapack Partners has acquired a development site located at 509 N Union Ave in River West, Chicago. The seller of the property was the Salvation Army. The sale, which took place on 05/02/2022, had a sale price of $25,000,000.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $25,000,000
- Market: River West, Chicago
- Address: 509 N Union Ave
The deal was facilitated by brokers Scott Maesel, Drew Dillon, Chad Schroedl, Adam Thomas, and Logan Parsons from SVN | Chicago Commercial. The transaction included the sale of the land as well as three properties situated on the land. The development site has a building square footage (BSF) of 567,000, resulting in a price per buildable square foot (PPBSF) of $44. The property itself has a square footage (SF) of 70,000, with a price per square foot (PPSF) of $357.
Players
All
6
Agents
5
Agencies
1
Details
SOLD
IMAGE: Chad Schroedl, Logan Parsons, Scott Maesel, Adam Thomas & Drew Dillon
DATE: 05/02/2022
ADDRESS: 509 N Union Ave
MARKET: River West, Chicago
ASSET TYPE: Development Site
BUYER: Shapack Partners
SELLER: Salvation Army
BROKERS: Scott Maesel (@SVN_Chicago), Drew Dillon, Chad Schroedl, Adam Thomas (@AdamcThomas3) & Logan Parsons (@Logan_Parsonss) - SVN | Chicago Commercial
SALE PRICE: $25,000,000
BSF: 567,000 ~ PPBSF: $44
SF: 70,000 ~ PPSF: $357
NOTE FROM BROKERS: The sale included land and 3 properties on said land.View on map
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Address509 North Union Avenue
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