Ken & Michael Motew Sell Multifamily Building At 1529 West Huron Street For $1.5M

This multifamily asset, located at 1529 West Huron Street in the Chicago market, was sold for $1,500,000. The building comprises six units and spans a total of 5,031 square feet, resulting in a price per unit of $250,000 and a price per square foot of $298. The property was completely gut-rehabbed down to the studs in 2017 and features a mix of larger one and two-bedroom units, with the first-floor units duplexed, and includes a two-car garage.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,500,000
• Units: 6
• Price per Unit: $250,000
• Square Footage: 5,031
• Price per Square Foot: $298
• Seller: Ken & Michael Motew
• Seller's Representative: Giancarlo Iannotta - Mo2 Properties

Giancarlo Iannotta from Mo2 Properties represented the sellers in this transaction. The property was fully occupied at the time of the sale, although it faced challenges due to the pre-pandemic layouts and its proximity to a gas station. Multiple offers were received, and the buyer ultimately purchased the property AS/IS.