CHICAGO, IL–(January 24, 2014) – Frontline Real Estate Partners closed the sale of a 10-unit mixed-use property located at 1739-45 N. Milwaukee Avenue, Chicago. The building was a partially completed development that was originally slated for eight apartments and two storefronts. Frontline was engaged to market the property for sale when the lender on the property took the unfinished project back through the foreclosure process. According to Andrew Rubin, associate at Frontline Real Estate Partners, there was an incredible amount of interest in the property due to its excellent location on Milwaukee Avenue in Chicago’s desirable Bucktown neighborhood. “We were able to successfully convert the high demand for the property into a structured, competitive bidding process with several competing buyers bidding up the price,” said Mr. Rubin. He added that Frontline was able to work through several challenges and was ultimately able to close the sale between the lender and a well-qualified local investor.
About Frontline Real Estate Partners
Frontline Real Estate Partners, LLC is a Chicago-based real estate investment and advisory company with expertise in the acquisition, management, disposition, and leasing ofcommercial real estate properties throughout the United States.Founded in 2010, Frontline invests in value-add properties and provides transactional and advisory services to banks, financial institutions, and owners with a focus on the real estate restructuring industry.