Southport Mixed-Use Building With Potential Sold by MPI for $1,625,000

Millennium Properties R/E, a premier boutique brokerage and property management company, announced that it recently brokered the sale of a three story mixed-use building in the Southport Corridor on Chicago’s north side for $1,625,000. The 3,237 square foot building is one of the last parcels available for redevelopment in this highly desirable commercial and residential area.

3424-26 N. Southport was built-out as a retail storefront and two apartments on a 3,000 square foot parcel. The building is close to the Southport Brown Line stop in the heart of one of Lakeview’s most desirable shopping districts. The Southport Corridor offers a strong mix of local and national retailers including Potbelly’s, Anthropologie, Krista K, Benefit Cosmetics, Free People, Paper Source, Uncle Dan’s Outfitters, J. Crew and more.

“This property generated an overwhelming amount of interest from local and national investors and developers and we received multiple offers in the first week the property was available,” said Greg Block, executive vice president of Millennium Properties. “As one of the last parcels available for redevelopment, almost all of the prospective buyers were interested in redeveloping the property as a new construction mixed-use building.”