ACO Commercial Announces
CHICAGO, ILLINOIS – Wednesday, July 14, 2014, ACO Commercial is pleased to announce the sale of 1449 N. Wicker Park Avenue in Chicago’s Wicker Park neighborhood. The property was built in 2004 and is comprised of eight (8) three (3) bedroom apartments.
George J. Toscas, Executive Vice President, arranged the sale, which is one of the highest prices recorded for a walk-up multifamily asset in the Chicago market to date. The sale represented a price of $425,000 per unit. Toscas had previously sold 6 of the 8 units in a Section 363 Bankruptcy Sale. All owners in the property recognized the opportunity to exit the property collectively. Therefore, a marketing campaign was developed to sell the asset as a whole.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.