ReJournals | Illinois Multifamily

Essex brokers $14.8 million sale of new Roscoe Village mixed-use development

September 28, 2021

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 2827-47 N. Clybourn Avenue, an exceptional luxury mixed-use apartment building located in Chicago’s popular Roscoe Village neighborhood.

A multifamily team led by Steven Livaditis and Jacob Goldstein of Essex Realty Group, Inc. was hired by a local developer to exclusively market the property for sale. Within a four-week timeframe, Essex led an extensive marketing campaign resulting in multiple offers and ultimately selling to a local investor for $14,800,000, which equates to a near-record price per unit of over $410,000 per unit for the Roscoe Village/West Lakeview neighborhood.

This luxury boutique property was completed in 2020 and comprised of 30 apartment units and six commercial spaces. The apartments were all 2 bedroom/2 bath units with expansive floorplans and featured high-end custom finishes with balconies and private rooftop lounge patios. Amenities included a private fitness center and heated indoor garage parking.

The property is situated on the northeast side of Clybourn Avenue, just one block east of the north branch of the Chicago River. Roscoe Village is a charming north side neighborhood nestled between Lakeview, North Center, and Bucktown. Neighbored by a combination of new condo buildings, residential apartments, and retail corridors, the tenants at 2827-48 N Clybourn are nestled into their own little community. Residents are steps away from major retailers such as Starbucks, Jewel-Osco, CVS, as well as unique independent destinations like Hexe Coffee Co. Stepping away from the brick and mortar, Fellger Playlot Park, and Hamlin Park are wonderful locations for people to enjoy the great outdoors. The diverse qualities of Roscoe Village make it an area of Chicago that many people are pleased to call home.

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

If you enjoyed this content and would like to stay in the loop, please consider following us on LinkedIn! If you’d like to talk with one of our agents on buying a property in the city of Chicago or the surrounding areas, please don’t hesitate to reach out and contact us. Thank you for reading!

Read Full Article at ReJournals | Illinois Multifamily
Tagged in this post: Steven Livaditis , Jacob Goldstein