Interra Realty Brokers $2.9M Mixed-Use Sale In Chicago's Bucktown To LEM Equities

The mixed-use property at 2048 N Damen Ave, Chicago, IL, 60647 has been sold for $2,900,000.00 in the Chicago market. This vintage building includes 1,100 square feet of ground-floor retail space, two two-bedroom apartments, and three three-bedroom apartments. The property is located in the highly sought-after Bucktown neighborhood, offering condo-quality finishes and amenities such as quartz countertops, stainless steel appliances, hardwood flooring, and in-unit laundry.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $2,900,000.00
• Buyer: An Affiliate of LEM Equities
• Buyer's Representative: Ted Stratman (Interra Realty)
• Seller: Unknown
• Per-Unit Price: Approximately $483,000
• Property Features: 1,100 square feet of ground-floor retail, two two-bedroom, and three three-bedroom apartments
• Market: Chicago

The sale was facilitated by the Interra team, comprising managing partner Ted Stratman and director Jeremy Morton. They successfully represented both the buyer, an affiliate of LEM Equities, and the private seller. The high investor interest in the property was driven by its quality compared to nearby buildings and its prime location in Bucktown, a popular neighborhood in Chicago known for its vibrant dining, entertainment, and shopping scene. The buyers, with a strong offer and no finance contingency, were keen to expand their portfolio into the Chicago market, making this property an ideal entry point.