Transwestern arranged the sale of 625 N. Kingsbury St., a vacant, single-story, 5,370-square-foot building in Chicago’s River North.
Transwestern Vice President David Kimball represented the seller, an entity controlled by Urban Innovations, in the transaction. The property sold for $2.25 million, approximately $419 per square foot. The buyer, a local private investor, plans to convert the property into a Top Dog Daycare & Hotel and expects to open this summer. Mark Kishtow of Jameson Commercial represented the buyer in negotiations.
“Opportunities to acquire a small-format, stand-alone building with dedicated parking in River North are exceedingly limited,” said Kimball. “625 N. Kingsbury St. presented a highly distinctive profile that resonated with an owner-user seeking both visibility and functionality in a premier downtown location.”
The 625 N. Kingsbury St. purchase also includes an adjacent 24-space surface parking lot. The property is located near the Chicago River and is within walking distance of public transportation, parks and neighborhood amenities.
The post Transwestern Brokers Sale of Vacant River North Building appeared first on Connect CRE.