1935-43 N. Sedgwick St. was owned by the selling family for approximately 50 years. At the time of their acquisition, they operated a Spanish bar and restaurant in the retail space. For approximately the last 20 years, the space has been leased to Sedgwick’s Bar, a neighborhood staple until it’s closing about 18 months ago. There are 12 residential units above the street-level retail.
The buyer, a local investment group, was attracted to the opportunity to acquire a value-add building in the low sale velocity Lincoln Park / Old Town Triangle neighborhood. They have a track record of transforming vintage apartments into market-leading units. They also have an in-house commercial leasing expert that will market the street-level commercial space to a variety of potential users.