ACO Commercial Sells Fractured Condominium Conversion at 104% of Asking Price
CHICAGO, ILLINOIS – Thursday, April 7, 2016
ACO Commercial is pleased to announce the sale of 20/24 units within the Heritage Residences located at 3700 W. Cermak Road in Chicago’s Little Village neighborhood.
George Toscas arranged the sale of the property on behalf of a regional bank. The marketing campaign generated multiple offers over the asking price.
3700 W. Cermak was constructed in the 1920’s and operated as rental apartments until the property was converted to condominiums in 2008. The conversion capitalized on large basement areas, creating large units of two and three bedroom configurations. The offering consisted of 20/24 units within the condominium property. The sale price of $1,350,000 was funded on an all-cash basis.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.