CHICAGO - (December 05, 2016)

Private investor purchases site at Grand and Austin avenues for $572,600  

Draper and Kramer, Incorporateda full-service national real estate firm, announces it brokered the $572,600 sale of a 0.61-acre property in Chicago’s Belmont Central neighborhoodwhich includes a banquet hall facility, storage building and a parking lot. A private investor acquired the site with Draper and Kramer Vice President Kurt Warnke representing the seller, Chicago-based Foreman Real Property LLC. The former banquet hall is located at 6010-6022 W. Grand Ave. and the parking lot fronts Austin Avenue. 

This property presented a value-add, prime redevelopment opportunity that garnered interest from several local individuals,” Warnke said. “The location along heavily traveled Grand Avenue was a key selling point. It could either be renovated to remain as a banquet hall, or demolished to make way for a residential building or a small strip center with two or three retail tenants.” 

More than 16,400 vehicles per day travel past the parcel, which is located just east of the Brickyard Mall, a major shopping center on the northwest side of Chicago. 

 

About Draper and Kramer, Incorporated:

Founded in 1893, Draper and Kramer, Incorporated is family-owned and one of the largest privately held full-service real estate firms in the U.S. Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s expertise spans residential and commercial property management and leasing; debt and equity financing for commercial properties; residential and commercial acquisition and development; and residential mortgage services through Draper and Kramer affiliate 1st Advantage Mortgage. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of investors in real estate across the U.S including corporations; private and institutional owners and users of real estate; government agencies; condominium associations; and foundations. For more information, visit www.draperandkramer.com 

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Editors:      

For more information, contact Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520. 

 

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