Mixed Use Building Sold in Chicago

The Real Estate Investment Services company Marcus and Millchap announced today that it has facilitated the sale of the property located at 2149 West Division Street.

The property, which was sold for $884,750, is approximately 5,259 square feet. It is currently being used as a mixed-use property, and the new owners intend to continue using it as such.

The property features five residential units and one retail unit. It comes with three parking spaces attached to the rear of the building.

The residential units are composed of three two bedroom, one bathroom apartments and two three bedroom, one bathroom apartments. Each residential unit comes equipped with HVAC and hot water heaters. All cleaning is, however, performed off-site.

The retail unit is currently being leased. The current tenant’s lease is set to expire in 2012, but it may elect to renew the space until 2018.

The investment specialists at Marcus and Millchap were granted exclusive rights to list the property. Two of these investment specialists, Kyle Stengle and Nicholas Kanich, managed to secure the buyer.

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