Chicago Multifamily Property Sells for $1.16M at $388/SF

A multifamily property located at 1847 West Armitage Avenue in Chicago, IL has been sold for 1.16M. The property spans 3,000 square feet and was sold at a price of 388 per square foot. The deal was closed on October 5th, 2021.

Sandra Wright and Aaron Share of [brokerage firm] represented the buyer and seller, respectively. The identity of the buyer and seller have not been disclosed.

The property is located in the Bucktown neighborhood of Chicago, which is known for its trendy restaurants, bars, and shops. The area has seen significant development in recent years, with new luxury apartment buildings and condos being built.

The property itself is a multifamily building, which could be used for rental income or as a residence for the owner. The sale price of $1.16M is relatively high for a property of this size, but it reflects the strong demand for real estate in the Bucktown area.

Overall, this sale is a positive sign for the Chicago real estate market, which has been recovering from the pandemic. The strong demand for properties in desirable neighborhoods like Bucktown is driving up prices and making it a seller’s market. Brokers like Sandra Wright and Aaron Share are well-positioned to take advantage of this trend and help their clients get the best possible deals.