SVN Brokers Chicago Loft Office Building Sale
- Mar 27, 2019
A team of brokers from SVN Chicago has arranged the sale of a 100,544-square-foot brick loft office building in Chicago’s Pilsen neighborhood. Vice Presidents Angelo Labriola and Paul Cawthon of the Cawthon-Labriola Group of SVN Chicago represented the seller while Advisors Stephen Cusano and James Mead represented the buyer. The deal closed at $5.4 million.
The office property is located at 2201 S. Halsted St., off interstates 90 and 94. A few blocks away are Lacuna Lofts and Mural Park, a former industrial building that Condor Partners has recently turned into office. The building features a parking lot in the rear and provides access to Orange Line and Metra stations.
“The potential expressway signage creates opportunity for a large tenant to have great signage visibility and for new ownership to create additional value-add,” said Labriola in a prepared statement.
According to PropertyShark, the previous owner bought the asset in 2014 for $2.6 million. Formerly an industrial building, the property was converted to office after the sale.
Image courtesy of SVN
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