M&R Development Acquires Mixed-Use Asset On West Addison St. In Chicago For $100M

The mixed-use property located at 1025 West Addison Street in Chicago has been sold for $100,000,000. The property consists of 148 units, with a price per unit of $675,676. M&R Development, represented by Anthony R. Rossi Jr. and Anthony R. Rossi Sr., along with Bucksbaum Retail Properties, were the buyers in this transaction.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $100,000,000
• Address: 1025 West Addison Street, Chicago
• Market: Chicago
• Units: 148
• Price Per Unit: $675,676

M&R Development, in partnership with Bucksbaum Retail Properties, have acquired the mixed-use property at 1025 West Addison Street. The transaction was completed for $100,000,000, and Anthony R. Rossi Jr. and Anthony R. Rossi Sr. served as the representatives for M&R Development in this deal.

It is worth noting that M&R Development and Bucksbaum Retail Properties expanded their ownership of the Addison & Clark complex near Wrigley Field through a refinancing deal. The developers were confident in the property's rebound, expecting increased foot traffic due to warmer weather and nearby attractions. This acquisition marks their continued investment and belief in the potential of the property.