ACO Sells Partially Completed Chicago Development to 1031 Buyer
CHICAGO, ILLINOIS – Friday, July 21, 2017
ACO Commercial is pleased to announce the sale of 4040 W. Roscoe Avenue in Chicago’s Avondale neighborhood. The 6,200 SF-two-story, brick building was vacant at the time of sale and was in the process of a full-scale renovation. At the time of sale, the building was completed to framing and structural enhancements.
George J. Toscas, Managing Broker, arranged the sale on behalf of a private investor. The sale was awarded to a local developer, who plans to complete the renovation of the structure and retain it as a rental investment property. The purchase price was $625,000 ($100.81/SF), and the transaction moved from contract to close in under 95 days on an all-cash basis.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.