Property Overview

Interra Realty has been exclusively engaged to market for sale 2543 N. California Avenue/2755 W. Logan Boulevard, a 16-unit mixed use property located in the highly desirable Logan Square sub-market, one of the most rapidly evolving neighborhoods of Chicago, IL. Situated on the southeast corner of Logan Blvd. and California Ave., the property is comprised of two adjacent buildings. The unit mix is comprised of (6) 2Bdr/1Ba, (6) 3Bdr/1Ba, (1) 3Bdr/2Ba-Duplex, (1) 4Bdr/2.5Ba-Duplex, and two (2) retail spaces which have both been occupied for several years by Starbucks and Buona Terra Ristorante respectively. The property is a staple within the area and its prime location at the corner of California Avenue and Logan Boulevard provides for both excellent visibility and traffic.

Over the course of 2017 and 2018, the following renovations have taken place: replaced the steel decks, tuckpointing work to the entire property, replaced the skylight, all of the exterior metal was replaced and painted, renovated all of the common hallways, and replaced 38 windows that needed to be fixed. Additionally, new coin-operated laundry machines were installed. Starbucks recently spent in excess of $400,000 in capital improvement to their space.

Twelve (12) units were updated with Quartz countertops and backsplash, new cabinetry, stainless steel appliances, new hardwood floors, new LED light fixtures throughout and marble bathroom floors. HVAC was added to 8 units where now all 14 residential units have tenant-paid for and controlled heat and air.

The property is across the street to the California and Logan CTA Bus Station, 0.6 miles from the Logan Square CTA 'L' Station and near several restaurants, shops, and retailers in the neighborhood.

Learn more about this transaction here

Highlights

  • 16 Unit Mixed-Use Property located in Highly Desirable Logan Square
  • Beautifully Renovated Apartment Units that provide top of the Market Rents
  • Renovations Completed in 2018
  • Anchored by Starbucks and Buona Terra
  • Further Ability to Renovate the Remaining Two Apartment Units
  • Conveniently Located less than 1/2 mile from the California Blue Line CTA Station

Key Details

Transaction Date
2023
NUMBER OF UNITS
Sixteen (16)
SUBMARKET
Logan Square
RETAIL TENANTS
Starbucks