Unknown Foundation Purchases 23000 SF Property At 4751 N Sheridan Rd Chicago For $3.3M

The property located at 4751 N Sheridan Rd, Chicago, IL, 60640 is a mixed-use asset comprising 14 apartments and five commercial spaces, totaling 23,000 square feet. It was sold for $3,300,000. The transaction took place in the Chicago market and is set in the eclectic Uptown neighborhood. The property, which was completed in 1908, had 78 pending code violations at the time of the sale.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $3,300,000.00
• Square Footage: 23,000
• Address: 4751 N Sheridan Rd, Chicago, IL, 60640
• Market: Chicago
• Seller's Representative: John Meyer-33 Realty
• Buyer: Unknown Foundation
• Cap Rate: 5.06 percent
• Gross Rent Multiplier: 10.5

John Meyer of 33 Realty facilitated the sale, representing the seller in the transaction. The buyer, an unknown foundation, acquired the property from the estate of its longtime owner, reflecting significant interest from the investment community despite the property's code violations.