Urban Land Sale
Located at 1970-84 N. Milwaukee Ave in Logan Square, this plot of land was not publicly available for sale. Through a direct calling campaign, the 33 team connected with the owner and requested the opportunity to present him with a valuation of the property. Based on our projected value, the seller gave us the opportunity to present the property on an off-market basis to a small list of our qualified developers.
After review of the various offers, the team negotiated and closed the deal with the development arm of one of Chicago’s reputable construction companies, Clayco. The purchaser agreed to a modest diligence period with no financing contingencies and made the purchase extremely seamless. Clayco ultimately built a 132-unit apartment building with 7,000 SF of commercial space and 13 parking spots. Upon completion, Clayco hired 33 Management to manage the building.