Chicago, Illinois – Thursday, August 21, 2014
ACO Commercial is pleased to announce the sale of 5454 N. Campbell Avenue in Chicago’s Lincoln Square neighborhood. The vintage property is comprised of four (4) one–bedroom and three (3) two-bedroom apartments. Two of the units were recently rehabbed to include refinished hardwood floors and updated kitchen counters and cabinets.
S. Justin Brown, Esq., First Vice President, arranged the sale of the property. The sale represented a price of approximately $105,000 per unit, and a capitalization rate of 6.95%. The purchase price was 97.3% of the asking price, and the sale resulted in a gain of around $100,000 for the investor, who purchased the property approximately 6 months earlier.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.