Adi Hileli Acquires Mixed-use Property In Chicago For $2.1M

5755-57 W Fullerton Ave is a mixed-use property located in the Belmont Craigin neighborhood of Chicago. The concrete and steel elevator building was built by the owner's father in the late 60s and offers a range of retail spaces, apartments, and parking spots. The property consists of 4 retail spaces, with 2 currently occupied, 23 apartments (including studios and 1 bedrooms) all occupied, a penthouse unit suitable for office or retail use, and 9 indoor parking spots. This off-market transaction was a private sale.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $2,100,000
• Market: Chicago
• Units: 28
• Price Per Unit: $75,000

The previous owner of 5755-57 W Fullerton Ave is Barron Harmon, a prominent real estate attorney in Chicago. The property was sold to Adi Hileli, represented by Sperry Van Ness. The buyer plans to invest in the units to improve the property, increase below-market rents, and explore renting out the parking spaces.