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Jason Wiznitzer Of J2 Equities Acquires Retail Property From Mitch Goltz Of GW Properties For $4.8M

Property Image
SOLD
$4,800,000
Tom Svoboda
MG

Illinois

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Retail33,000 SF
Sold 04/15/2025
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Property Image
SOLD

Jason Wiznitzer Of J2 Equities Acquires Retail Property From Mitch Goltz Of GW Properties For $4.8M

2420 North Milwaukee Avenue

See Similar Deals
Retail33,000 SF
Sold 04/15/2025
Tom Svoboda
MG
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$145
Total Square Footage:33,000 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 2418-2420 North Milwaukee Avenue in Chicago. The sale price for the property was $4,800,000, and it encompasses a total square footage of 33,000, resulting in a price per square foot of $145.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,800,000
  • Address: 2418-2420 North Milwaukee Avenue
  • Market: Chicago
  • Buyer: Jason Wiznitzer - J2 Equities
  • Seller: Mitch Goltz - GW Properties
  • Broker: Tom Svoboda - CBRE
  • Square Footage: 33,000
  • Price per Square Foot: $145

J2 Equities acquired the historic Hollander Storage building from GW Properties. After securing entitlements, GW Properties ultimately sold the asset at a loss. CBRE’s Tom Svoboda acted as the broker for this transaction, which will now pave the way for a 62-unit residential redevelopment, including 13,000 square feet of retail space.

Players

Tom Svoboda
CBRE
Tom Svoboda
8 deals$53.5M volume
BROKER
MG
Mitch Goltz
7 deals$108.8M volume
SELLER

Details

SOLD
IMAGE: Mitch Goltz & Tom Svoboda DATE: 04/15/2025 ADDRESS: 2418-2420 North Milwaukee Avenue MARKET: Chicago ASSET TYPE: Retail BUYER: Jason Wiznitzer - J2 Equities SELLER: Mitch Goltz - GW Properties BROKER: Tom Svoboda - CBRE (@CBRE) SALE PRICE: $4,800,000 SF: 33,000 ~ PPSF: $145 NOTE: J2 Equities bought the historic Hollander Storage building at 2418-2420 N. Milwaukee Ave. in Logan Square for just under $4.8M from GW Properties, with CBRE’s Tom Svoboda brokering the deal. J2 will move forward with a 62-unit residential redevelopment including 13,000 SF of retail, after GW spent years securing entitlements but ultimately sold at a loss.

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Deal Type
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Net Operating Income (NOI)

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
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