ACO Commercial Arranges the Sale of 27 Units Steps from Obama Residence for $3.2 Million
CHICAGO, ILLINOIS – Thursday December 27, 2012 – ACO Commercial, is pleased to announce the sale of 1118-11218 E. Hyde Park Boulevard in Chicago, Illinois. The property is comprised of a 37-unit courtyard building constructed in 1929, and converted to condominiums in 2007. The offering consisted of 27 of 37 units within the development.
George J. Toscas, Executive Vice President of ACO Commercial arranged the sale of the fractured development on behalf of a bank client to a buyer based in Los Angeles, California. The sale price was about $3,150,000 representing a price per unit of $116,666. The transaction marked one of the highest price points ever achieved in the Kenwood neighborhood on a per-unit basis.
The offering was comprised of 22 one-bedroom units, 3 four-bedroom units, and 2-three bedroom units. The property represented the one of the highest price per unit sales in the Kenwood Neighborhood for a multifamily property.
ACO Commercial specializes in the sale of investment real estate throughout the Midwest. Affiliated Chicago Operations, LLC has 21 offices in Illinois, Wisconsin, and Indiana with over 1,000 agents.