Thursday, August 02, 2018

Old Riverside Cafe space in Bucktown still vacant after 3 years

The former garden space at Riverside Cafe.  The restaurant and adjacent lot (shown here) have sat vacant since the building and adjacent lot sold for $2.5 million in 2015 (All photos Eric Rojas, Broker, Kale Realty)
After serving Bucktown for 31 years the Riverside Cafe closed in 2015.  According to the story the property was sold to a restaurant developer for $2.5 million in July 2015. Cook County Recorder of Deeds records at 1654-1656 W Cortland are little more complex... showing several lien releases (mechanics, lis pendens, City Water Department) in 2015 and a couple transfers of the property recorded in 2016.  A Trustees Deed was recorded for $1,750,000 to an LLC (a sales transaction) then a Quit Claim Deed to another LLC (transfer of property) and a mortgage recorded for $1,980,000 all on the same day of 2016. There is no recorded sale in 2015 from my viewing of public records.

The vintage building was purchased by a restaurant developer to open a new restaurant and renovate the apartments back in 2015.
The plan according to the DNAInfo report at the time was to open a new restaurant and renovate the apartments above. Rumor has it this unique vacant restaurant space has a future.... finally (whispers from another Broker selling property nearby).  It's a nice property among several established bars, restaurants and services in unique little mixed use strip of Bucktown.

Restaurants and bars on each side of the street.

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