Senior managing partner Joe Smazal represented the seller, TRB Properties One LLC, a venture of local developer Tom Boney. Smazal, who was able to attract multiple competitive offers within the first week of marketing, also represented the buyer, a private local investor, for this Bronzeville property.

“Buyers were attracted to the quality of the asset and its solid tenant base, as well as its proximity to Lake Michigan, public transportation, multiple colleges and the former Michael Reese Hospital site, which is being redeveloped into a new mixed-use district,” said Smazal. “The Gap, in particular, is blooming with new construction and renovation projects, including other residential developments led by Mr. Boney, who saw the opportunity to capitalize on growing demand for housing with a property whose storied past reflects the area’s rich history.”

Read article: RE Journals