The brokerage sold the 19,000-sf building on two acres for $800,000 within 60 days after former owner Richard Judd, who operated a banquet hall at 127th Street and Kedzie for 20 years, decided to put the property on the market. Beggar's Pizza plans to remodel the building and reopen this summer.
"If you can garner enough interest in the property, the seller is likely to receive at least his asking price, if not more, and quickly as well," explains Inland senior vice president Charles Hold, CCIM, of the sealed-bid strategy. Hold represented both parties in the deal.
Meanwhile, Hold and senior sales associate Scott Schiave brokered an office and warehouse sale in Chicago's Montclare neighborhood. The two teamed up to sell a 7,500-sf property that includes four offices and 2,400-sf warehouse at at 7061-65 W. Belmont and 3143 N. Nottingham for $350,000. Ralph and Jane Bogot sold the property to John and Nick Tsichlis, who plan to occupy one unit and lease the rest of the property.
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