@properties Commercial Brokers $4.2M Sale of River North Property

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Property in prime River North corner location to be redeveloped into mixed-used residential and retail building.

@properties Commercial recently brokered the $4,225,000 sale of a 6,170-square-foot property at the southeast corner of Chicago Avenue and LaSalle Drive, in River North.

Michael Weber and Ian Feinerman, senior brokers for @properties Commercial, represented the private seller in the transaction. A private developer acquired the property with plans to redevelop it into a mixed-use residential and retail building. Weber and Feinerman were the sole brokers in the transaction.

Located at 123 W. Chicago Ave. / 777 N. LaSalle Dr., the property currently features a building that has operated as a currency exchange for decades, as well as parking for 10 cars. It is within walking distance of CTA Brown and Red Line stops, a Divvy bike station, a variety of restaurants, and shops on Oak Street and Michigan Avenue.

“This is a prime piece of land in a highly-visible corner of River North. It’s not only a desirable location for retailers who benefit from the visibility and vehicle traffic, but also for people who want to live in a convenient area that offers easy access to everything River North has to offer,” said Weber.

“River North continues to be a hotbed of development activity, with new construction of all types surrounding this property,” added Feinerman. “This is an ideal redevelopment opportunity and the forthcoming project will be a great addition to the neighborhood.”

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About MI Realty Group / @properties Commercial

MI Realty Group is a team within @properties Commercial, a full-service Chicago commercial real estate firm that focuses on all asset classes within commercial real estate including multifamily, retail, office, industrial, land, hospitality, as well as specialty properties. @properties Commercial is the full service commercial real estate division of @properties, the Chicago area’s largest brokerage firm by sales volume.

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Maris Callahan

Kelly Maguire
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