Formerly home to a CVS, prime infill location draws significant investor interest

Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $10.5 million sale of a 2.28-acre retail site at 2053. N. Milwaukee Ave. in Chicago’s Logan Square neighborhood.

Offering high visibility near the intersection of Milwaukee, Western and Armitage avenues, the property currently houses a vacant 25,473-square-foot retail building, formerly a CVS store, and approximately 125 parking spaces. In addition to being near retail, restaurant and nightlife destinations, the location is less than a half-mile from the Western Blue Line station.

Interra Director Colin O’Malley represented the seller, a local real estate owner and investor.

“Large infill sites with ample parking in highly coveted neighborhoods like Logan Square don’t come along often, so we were able to generate significant investor interest,” said O’Malley. “The property is ripe for redevelopment that will help revitalize this prominent stretch of Milwaukee Avenue.”

The buyer is hoping to redevelop the site under the existing zoning.

About Interra Realty:

Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com.

Interra Realty has brokered the $10.5 million sale of a 2.28-acre retail site at 2053 N. Milwaukee Ave., in Chicago’s Logan Square neighborhood.