A two-story Lincoln Park retail building located near DePaul University sold for $2.25 million.
Less than a mile from the Catholic university, the property served as Rosebud Restaurants’ headquarters office and commissary kitchen.
The 11,300-square-foot building at 1419 W. Diversey Parkway sold to a Michigan-based real estate developer, according to Greenstone Partners.
“This acquisition represents a rare opportunity to redevelop along one of the strongest corridors in Chicago,” said Brewster Hague with Chicago-based Greenstone, in a statement.
Hague and colleague Tom Galvin represented the buyer in the transaction.
“Demand for well-located sites in Lincoln Park continues to outpace supply and redevelopment opportunities,” said Hague.
This latest North Side deal marked Greenstone Partners’ 60th investment sale within the Lincoln Park and Lakeview submarkets since the firm’s 2013 founding. The deal contributed to a combined transaction volume of $209 million in this trade area.