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1528 S Wabash AveChicago, IL 60605
Imperial Lofts
Asset ClassMultifamily
Deal Size$14.9 M
urban chicago condominium deconversion
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in Imperial Loft Condominiums (the “Property”), a 50-unit residential condominium building prominently located in Chicago’s booming South Loop neighborhood.

 

The ±61,000 square foot, six-story condominium property is situated upon ± 16,380 square feet of land with 100 feet of frontage along Wabash Avenue. The Property’s first floor consists of one (1) retail tenants totaling ±2,500 square feet, and the second to sixth floors includes 10 condominium units, each with a unit mix of thirty 1 bed/ 1 bath, fifteen 2 bed/ 1 bath and five 2 bed/ 2 bath. The remainder of the ground level and basement are dedicated for interior heated parking. The building also owns the adjacent land to the north and uses it for exterior parking and access to the garage.

 

Located immediately south of the Chicago CBD ‘Loop’, the South Loop neighborhood is a thriving residential neighborhood with direct access to Lake Michigan and Museum Campus. The neighborhood also enjoys excellent access to public transit through the Roosevelt CTA station- home to the Red, Orange and Green lines-, Cermak- McCormick Place CTA station, 18th Street Metra Station and over 10 CTA bus lines running primarily on Michigan Ave and State Street.

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Investment Highlights

⦿ PREMIER LOCATION

 

⦿ GREAT BUILDING + SERVICE

 

⦿ STRONG NEIGHBORHOOD MOMENTUM

 

⦿ OUTSTANDING DEMOGRAPHICS

 

⦿ TREMENDOUS WALKABILITY + MASS TRANSIT ACCESSIBILITY

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1528 S Wabash AveChicago, IL 60605
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Listing provided by Revere CRE