747 N. May

Sales Overview

  • Price: $4,800,000
  • Number of Units: 22
  • Building Size: 10,961 SF
  • Property Type: Multi-Family
  • Lot Size: 4,456 SF

Highlights

  • Beautifully Renovated 22 Room Apartment Hotel in River West.
  • Perfect Location: 2 Minute Walk from Blue Line.
  • 5 Year Master Lease through 2022 with 5 Year Option at a 15% Rent Escalation.
  • High End Custom Finishes with Quartz Counter tops.

Description

Interra Realty has been exclusively engaged to market a beautifully rehabbed twenty two (22) room Apartment Hotel in the increasingly popular River West Neighborhood. The property is perfectly located just a two minute walk to the Blue Line CTA.

The entire property was recently gut rehabbed and features high end studio units with white quartz counter tops, stainless steel appliances, custom cabinetry, hardwood floors, and in unit washer and dryer. New electric, plumbing, are HVAC installed throughout.

The entire property is master leased to Ginosi Apartels and Hotels, a travel accommodation that fuses the concept of a hotel with the conveniences of a fully furnished apartment. Ginosi has signed a master lease for 5 years through 2022 with a 5 year option at a 15% rent escalation. All management and maintenance of the property is done by Ginosi Apartels and Hotels.


Location

Contact the Brokers

Jeremy Morton

Director

312.724.7010

Ted Stratman

Managing Partner

312-361-3133