Essex brokers sale of two vintage North Side apartment buildings

Essex Realty Group, Inc. announced the sale of 4827-4833 N. Wolcott Avenue, a 25-unit courtyard building located in Chicago’s popular Ravenswood neighborhood.

Essex Principals Jim Darrow and Jordan Gottlieb represented the out-of-state seller. This Essex team conducted an extensive marketing campaign resulting in more than 21 property tours and five offers. The property closed for approximately $5,435,500. Essex Principal Steve Livaditis represented the buyer, a local investor, in this transaction.

The property is comprised of spacious one- and two-bedroom apartments with separate living and dining rooms. The units include hardwood floors and a mix of white or stainless-steel appliances. Shared laundry is located on-site in the basement.

The property is conveniently located two blocks from the newly renovated Ravenswood Metra Station, five blocks to the Damen Brown Line CTA Station, and right around the corner from the new Mariano’s grocery store on Lawrence, providing tenants with quick access to public transportation options and convenient shopping destinations.

Additionally, Essex brokered the sale of 1300 W. Hood Avenue, a 12-unit multifamily property located in the Edgewater Glen neighborhood.

Essex Director Matt Feo represented the seller, a local investor, in this transaction. The seller meticulously maintained this property for more than 20 years. The property was placed under contract just six weeks after listing. During the marketing period, Essex brokers conducted 15 property tours and generated 11 offers. The buyer, a local investor, purchased the property for approximately $2,850,000. Essex Principal Steve Livaditis represented the buyer.

The property is situated on the corner of Hood and Lakewood Avenue and features large apartment units with hardwood floors throughout. Six of the units are accessible via the main entrance on Hood Avenue while the other six units are accessible from Lakewood Avenue. The Hood Avenue units are extremely spacious with formal dining rooms, living rooms, and enclosed sun porches. The building also features an extensive basement boasting high ceilings and large windows.

The property is situated steps from the Granville CTA Red Line Station and an abundance of restaurant and retail options along Granville Avenue and Broadway. The location is also in close proximity to Edgewater’s beautiful parks and beaches and Loyola University’s Lake Shore Campus.

Essex Realty Group, Inc. is a leading mid-market brokerage firm that specializes in the sale of investment real estate throughout the Chicago metropolitan area. Visit https://essexrealtygroup.com for access to our multi-family listings and more information.