ACO Nearly Triples 2013 Acquisition Price for PMG with Chicago Multifamily Sale
CHICAGO, ILLINOIS – Monday, December 11, 2017
ACO Commercial is pleased to announce the year-end sale of 5858 W. Fullerton Avenue in Chicago’s Belmont Cragin neighborhood, a 14-unit property. The ACO marketing campaign generated 19 tours and multiple offers.
Linda Hattar, Vice President, and George Toscas, Managing Broker, arranged the sale on behalf of New York based Property Markets Group (www.propertymg.com), who acquired the property in 2013 for 36% of the 2017 sale price.
The $1.2 Million sale represented a price per unit of $85,714, a record for California-style properties in the submarket. The deal moved from contract to close in 42 days. The sale marks the tenth transaction ACO has completed in the Belmont Cragin submarket.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.