Nicholas Stocking And Drew Dillon Acquire Mixed-Use Asset In Chicago For $5.87M

A mixed-use asset located at 1523 West Chicago Avenue in Chicago was involved in a sale transaction. The property comprises 15 units, spans 14,500 square feet, and was sold for $5,870,000, equating to a price per unit of $391,333 and a price per square foot of $404. The building was fully gut-rehabbed to condo-quality standards between 2019-2020 and features four stories in a vibrant neighborhood.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $5,870,000
• Address: 1523 West Chicago Avenue
• Market: Chicago
• Units: 15
• Square Footage: 14,500
• Price Per Unit: $391,333
• Price Per Square Foot: $404
• Buyer: Nicholas Stocking & Drew Dillon - Stocking Urban
• Seller: North Park Ventures
• Brokers: Joe Smazal & Michael Duckler - Interra Realty

A joint venture was formed between Stocking Urban, Pike Street Properties, and Ashland Capital for the acquisition of the property. This transaction highlights the partnership dynamics in the deal while further establishing Stocking Urban's presence in prominent real estate ventures.