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1846 South Loomis Street
SOLD

Aaron Sklar, Noah Birk & Dan Gonzalez Acquire Multifamily Property In Chicago For $2.4M

1846 South Loomis Street

MultiFamily
18,324 SF
clock iconSold 52 days ago
Jason St. John
Jordan Multack
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Summary

Sale
ILLINOIS
MultiFamily
18,324 sqft

1846 South Loomis Street is an 18,000 square foot multifamily property located in Chicago's Pilsen neighborhood. The property comprises sixteen fully leased units and was sold for $2,425,000, equating to approximately $151,563 per unit. The building features large-sized units that were renovated twenty years ago from a cold storage facility, including upgraded kitchens, bathrooms, separate HVAC systems, and laundry hookups.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,425,000
  • Units: 16
  • Price Per Unit: $151,563
  • Square Footage: 18,324
  • Price Per Square Foot: $132
  • Address: 1846 South Loomis Street, Chicago
  • Market: Chicago

The sale of 1846 South Loomis Street was facilitated by the brokerage team of Greenstone Partners, with Jason St. John and Jordan Multack representing both the seller, a Chicago-based private investor, and the buyer, a private local investment group. Greenstone Partners executed an exclusive marketing strategy that garnered significant interest, leading to over 20 property tours and multiple competing offers.

Players

  • All

    3

  • Agents

    2

  • Agencies

    1

Jason St. John's profile picture
Jason St. John
Greenstone Partners-image
Managing Partner
$116M Sold
Jordan Multack's profile picture

Details

Deal Summary
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SOLD
IMAGE: Jordan Multack & Jason St. John DATE: 03/29/2024 ADDRESS: 1846 South Loomis Street MARKET: Chicago ASSET TYPE: Multifamily BUYER: Aaron Sklar, Noah Birk & Dan Gonzalez BROKERS: Jason St. John (@JasonStJohn) & Jordan Multack (@Tackness) - Greenstone Partners (@GreenstonePartners) SALE PRICE: $2,425,000 UNITS: 16 ~ PPU: $151,563 SF: 18,324 ~ PPSF: $132 NOTE FROM BROKERS: Greenstone Partners successfully sold 1846 South Loomis, an 18,000 square foot value-add building in Chicago's highly sought-after Pilsen neighborhood. The fully leased sixteen-unit property closed at $2,425,000, or just over $150,000 per unit. Buyers were drawn to the investment due to the large-sized units that had been thoughtfully renovated twenty years ago from an early 1900s cold storage facility. Renovations included new kitchens, bathrooms, separated HVAC, and laundry hookups. Furthermore, the property could mark rents to market with an ability to immediately push rental rates by 20% and boost parking rents. The property is centrally located in Pilsen, one-half a block south of the 18th Street corridor, close to numerous restaurants, retail, and transportation. Its prime location makes it easily accessible to the CTA 18th Street Pink Line stop and various bus lines. Greenstone Partners’ Jason St. John and Jordan Multack exclusively represented the seller, a Chicago-based private investor, and procured the buyer, a private local investment group. Greenstone Partners’ exclusive marketing process yielded more than 20 property tours and multiple offers.

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Address1846 South Loomis Street

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