Essex Realty Group Arranges $3.1 Million Sale of Sheridan Park Multifamily Asset

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC is pleased to announce the sale of 4401–4403 N. Beacon Street, a 13-unit multifamily property located in Chicago’s Sheridan Park neighborhood. The property sold for $3,100,000.

Property Overview: 4401-4403 N. Beacon Street

The attractive corner walk-up apartment building features a desirable unit mix of thirteen apartments, including three large 1 Bedroom 1 Bathroom units with offices and ten 2 Bedroom 1 Bathroom units. The units offer spacious layouts with excellent natural light, and select apartments feature separate dining rooms, sunrooms, and eat-in kitchens.

The transaction was arranged by Essex Realty Group Principal Matt Feo on behalf of the seller and Principal Steve Livaditis on behalf of the buyer.

“Every building is unique, and this one was no exception. On paper, it may have been easy to overlook at our pricing — but true value isn’t always captured in surface-level metrics. The oversized layouts, expansive basements with tall ceilings, and the potential to add bedrooms created an opportunity you had to see in person to fully appreciate,” said Feo. “Our job is to highlight what makes a property truly special, generate real excitement, and get the right buyers through the door so the market can recognize its full potential.”

Value Add Opportunity

The property presented a compelling value-add opportunity through the potential addition of in-unit laundry, the ability to create additional bedrooms, and the use of substantial basement space with high ceilings that may allow for additional dwelling units or duplex-down configurations.

Ownership has maintained the building at a high level, completing several recent capital improvements including a newer rubber roof layer on a portion of the roof in 2021, a rebuilt section of the parapet wall in 2021, a new hot water system in 2022, new water service, and new coin-operated laundry facilities.

Prime Sheridan Park Location

Located approximately six miles north of downtown Chicago, Sheridan Park offers a blend of historic character and urban convenience, with access to the Wilson Red and Purple Line Station, the Montrose Brown Line Station, major bus routes, and Lake Shore Drive. The neighborhood is also close to Broadway and Lawrence Avenue retail and dining, the Uptown Entertainment District, Andersonville, Ravenswood, and Lincoln Square, with ongoing investment supporting strong long-term rental demand.

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Since 1990, Essex Realty Group, LLC has served Chicago’s investment real estate market as a top multifamily brokerage firm, specializing in Chicago multifamily for sale properties. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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