Repeat Sale in Lincoln Park Comes in Nearly 50% Higher
Essex Realty Group handled the repeat sale of 916 W. Willow St., a four-unit apartment building in Lincoln Park. The brokerage firm sold it to the current seller for $1.1 million in 2015, when it represented a value-add opportunity, and to the current buyer for approximately $1.63 million.
After the 2015 acquisition, the seller, a local investor, undertook renovations that transformed the property into a turn-key, stabilized asset. The seller was represented by Essex Realty’s Doug Imber, Kate Varde and Clay Maxfield.
“One of the exciting attributes about this property is that it is just steps from the planned Lincoln Yards South Site and a number of thoughtfully planned developments to come, including the 606 Extension, a new Metra station and a water taxi stop,” said Maxfield.
The buyer, also a local investor, was represented by Essex Realty’s Jim Darrow, Jordan Gottlieb and Jordan Multack.Read Full Article at Connect Chicago