Essex Realty Group, Inc is proud to announce the sale of 1530 W. Chicago Ave., a mixed-use building located in the West Town neighborhood of Chicago. The property was vacant at the time of sale and within the first 30 days of marketing, Essex procured 12 property tours which resulted in multiple offer to purchase. The property ultimately sold at 96% of the listed price to a local investor and business operator who had waived all contingencies upon the execution of the purchase contract.
Chicago’s West Town community features a number of diverse and lively neighborhoods including East Village, Noble Square, Ukrainian Village and Wicker Park. Today, West Town is rapidly changing and becoming one of Chicago’s most desirable neighborhoods, offering an array of colorful galleries and museums, independent theaters, quaint coffee shops, and a booming restaurant and nightlife scene.
West Town benefits from easy access to public transportation and close proximity to Chicago’s central business district. In addition, West Town benefits by being located within very close proximity to the West Loop, which is currently undergoing a transformation into a tech company hub. Companies such as Google, Twitter, and LinkedIn all have decided to make the West Loop their Chicago home, bringing a multitude of well-paying jobs to the area. For example, 1530 W. Chicago Ave. is situated approx. 1 mile from Chicago’s Google HQ.
The property is located within steps of the Ashland Ave. and Chicago Ave. intersection, in the heart of Chicago’s West Town Neighborhood. The property is also conveniently located approx. 1/2 mile from the Chicago Blue Line CTA Station and in close proximity to numerous bus stops and Divvy Bike Stations.
- Prime West Town Location
- Mixed-Use Building
- 1,025 SF Ground Retail Space
- 10+ Tours in 30 Days
- Multiple Written Offers
- Competitive Bidding Process
- Current Rents were Significantly Below Market
- Closed at 96% of List Price