CRER Senior Director Christian Arai closed the off-market sale of a 10,500-square-foot mixed-use building in the heart of Bucktown. The sale price was $1,550,000, or roughly $147 per square foot. That comes out to about $258,333 per unit.
The property includes six units in total — two commercial spaces and four residential units. The commercial spaces have remained occupied, including Bucktown Liquors, which has been a fixture in the neighborhood for over 40 years. The second and third floors, which house the four residential units, have been vacant since 1989. The building had been under the same ownership since the 1970s.
Christian Arai represented both the buyer and the seller. His ability to manage both sides of the deal was key in getting this long-held property sold off-market.
The new owner plans to complete a full gut renovation. Once finished, the building will be fully modernized, bringing new energy to a corner of Bucktown that has sat quiet on the upper floors for decades.
This sale marks another strong result for Christian Arai and the CRER team, continuing their work on complex, off-market transactions throughout Chicago.
