Sperry Van Ness (SVN), located in downtown Chicago at 112 S. Sangamon, is proud to announce that Senior Investment Advisor Jeff Baasch has recently sold The Sheridan Terrace, an 18 unit multifamily building located at 515 Sheridan Road in Evanston, Illinois to an undisclosed buyer.

The property commanded a sales price of $2.865 million or $160,000 per unit. Mr. Baasch has extensive experience working with bank owned properties, and 515 Sheridan represents one of many bank-owned transactions he has closed this year.

“The amount of activity generated by us on the multifamily property located at 515 Sheridan demonstrates significant pent up demand from investors who have been sitting on the sidelines, but are now starting to move capital into the marketplace,” says Mr. Baasch who specializes in multifamily properties.

According to Scott R. Maesel, Executive Managing Director, “Jeff’s persistence, focused marketing campaign and in-depth knowledge of the multifamily market, coupled with the SVN platform of maximizing exposure for the property led to a successful and quick close.” Mr. Baasch is currently representing both local and national banks in the sale of distressed properties.

Founded in 1987, Sperry Van Ness is one of the largest and fastest growing commercial real estate brokerage firms in the industry, with more than 990 advisors in over 150 locations. Sperry Van Ness LLC is a full-service commercial real estate advisory firm located at 112 S. Sangamon in downtown Chicago. For more information, please visit www.SVN112.com or call 312.676.1860.