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Hilco Real Estate Announces the Bid Deadline of a Versatile 1,800± SF Retail/Office Building in Chicago

Jan 22, 2019

Hilco Real Estate, LLC announces March 13, 2019 as the Bid Deadline for the sale of a prime 1,800± SF retail/office building located along Elston Avenue on Chicago’s Northwest Side. 

Elston Property

Totaling over 1,800 SF of highly functional space, the building at 4591 Elston Avenue is ideal for a variety of uses. The interior has a spacious open floor plan, providing countless re-use opportunities. Built in 1977, an extensive renovation was completed in 2007, adding desirable amenities to the building, including seven large skylights, heated floors, two restrooms (one complete with shower), new plumbing, full electrical rewiring of workstations, and the infrastructure for an on-site server. Benefiting from 25 feet of frontage along busy Elston Avenue, the property maintains a high profile in this bustling market that is ranked as one of the City’s most walk-able neighborhoods. The site also features private parking for up to six vehicles to the rear of the building.

Located on the Northwest Side of Chicago, the property is situated in the thriving Albany Park/Mayfair neighborhood. The site is ideally situated less than 10 miles north of Downtown, easily accessed from both the suburbs and the City. The area is also well-connected offering easy access to public transportation and is conveniently located less than one mile from I-90 and I-94.

The Northwest Side is one of Chicago’s most ethnically diverse and multi-cultural neighborhoods. It is a highly inclusive culinary destination, with everything from Middle Eastern bakeries alongside Swedish restaurants to Spanish bodegas. With a wealth of small and independent businesses, the area has a supportive and vibrant economic environment. This supportive spirit has resulted in a variety of business flocking to the area, ranging from creative industries to entrepreneurs and local artists.

Jeff Azuse, Senior Vice President with Hilco Real Estate said, “the Northwest Side of Chicago continues to be a highly desirable market within the City. With its strong demographics and extremely healthy growth rate of 8.41%, interest in the area continues to expand. These factors, together with the area’s easy access to transportation options and host of international restaurants and small businesses, continue to drive people to the area and create a thriving business environment.”

The Bid Deadline is scheduled for Wednesday, March 13, 2019; however, offers prior to the deadline are encouraged. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. On-site inspection dates to view the property will occur on February 20 & March 6. For more information regarding site viewings, please contact Abraham Mizrahi a at Amizrahi@hilcoglobal.com. Interested buyers can submit their bids via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to Amizrahi@hilcoglobal.com.

For further information on the property, an explanation of the sale process and Terms of Sale, and to obtain access to the Virtual Deal Room containing all property due diligence, please visit HilcoRealEstate.com or call (855) 755-2300.

For more information about this or other properties available for sale, please visit HilcoRealEstate.com.