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Tim Rasmussen, CCIM, and Marcus Sullivan from SVN Chicago Commercial successfully facilitated the sale of 1307 S. Wabash Avenue in the vibrant South Loop neighborhood of Chicago. The property was sold for $1.8 million.

The seller was represented by SVN | Chicago Commercial while Century 21 Realty Associates’ David Wong acted as the buyer’s representative. The restaurant condo spanning over 4,800 square feet was purchased by a local restaurateur at a price that equaled to 95% of its initial asking price with financing support from a lender.

Built in 1929, this seven-story building boasts of seventy-three “soft loft” units and is strategically located near prestigious educational institutions such as Columbia College Chicago and DePaul University. As an all-inclusive commercial real estate advisory firm with an in-house property management division, SVN |Chicago Commercial played a crucial role in this transaction.

This news piece originally appeared on Connect CRE.