KIG CRE, as exclusive agent, presents Vesta Lofts, a stabilized 59-unit building in the South Loop for acquisition consideration. This four-story, exposed brick multifamily asset offers loft apartments with beautiful finishes, unique living amenities and easy access to transportation. The real opportunity with this asset, however, lies in the adjacent 19,374 sf lot – a prime area for development. Situated in the rapidly evolving McCormick Square Entertainment District, Vesta Lofts offers an incredible development opportunity while benefitting from the in-place income of a stabilized asset.
* 59 units, renovated in 2013
* Historically high occupancy, currently 100%
* 19,374 sf developable parking lot
* Current zoning is DX-5
* Located in Chicago’s 3rd Ward, Alderman Pat Dowell