Becovic Adds Iconic Howard Theater Building in Rogers Park To Its Portfolio
40-Unit Multifamily Property with Seven Commercial Spaces Sells for $7,500,000
CHICAGO (December 27, 2021) – Becovic, a Chicago-based multifamily owner and operator, has added The Howard Theater Building to its Rogers Park portfolio. The mixed-use property at 1615-43 W. Howard Street sold for $7,500,000 and was brokered by Becovic Realty. The historic Howard Theater Building’s 40 rental units are a mix of studio, one- and two-bedroom floorplans. The property also includes 60 surface parking spaces and 15,000 square feet of fully leased ground-floor retail.
The property was originally built in 1918 and has a rich history as being a destination for movies and live productions. The building was repurposed in 1999 by Cornerstone Investment Group with elements of the original theater being included in the redevelopment such as the facade and outer lobby.
“We are fortunate to add this iconic Rogers Park property,” said President Sal Becovic. “The Howard Theater is vital to the vibrance of the neighborhood and the success of the Howard Street Business District in attracting businesses along Howard Street. We look forward to continuing to provide quality apartment homes to our residents and do our part to attract restaurants, culture and retail that all Rogers Park residents will love and support.”
The Howard Theater Building’s commercial spaces include well-known businesses like Sol Cafe, Factory Theater and P & J Footwear. Howard Street, located on the border of Chicago’s Rogers Park neighborhood and suburban Evanston, is alive with an engaging personality represented by its vital diversity, welcoming nature, and entrepreneurial spirit.
Since 1973, the Becovic family has invested in multifamily properties throughout the northside of Chicago. The Becovic portfolio today has over 2,000 apartment units spanning numerous Chicago neighborhoods and in Milwaukee, Wisconsin. As long-term owners with a hyper-local pulse on each community’s values, needs and dreams, Becovic is dedicated to fostering diversity, integrity, beauty, and vitality in the neighborhoods where they own and manage. This is achieved through continuously investing in their buildings and improving residents’ homes and lives. Learn more about Becovic at Becovic.com.