ACO Commercial Sells Rogers Park 19-Unit for 106% of Asking Price
CHICAGO, ILLINOIS – Friday, December 4, 2015
ACO Commercial is pleased to announce the sale of 1504-1508 W. Fargo Avenue located in Chicago’s Rogers Park Neighborhood.
George Toscas, Executive Vice President, arranged the sale of the property on behalf of a regional bank. The marketing campaign generated 17 tours and multiple offers above the asking price. The purchaser closed the transaction with no financing or inspection contingencies, within 30 days of contract execution.
1504-1508 W. Fargo is comprised of 19 apartment units of one-bedroom and studio configurations. The price was $1,425,000 reflecting a price per unit of $75,000 and a pro forma capitalization rate of 6.70%.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.