Essex Closes Sale of Edgewater Glen Apartments
Essex Realty Group closed the sale of 1300 W. Hood Ave., a 12-unit multifamily property located in the North Side’s Edgewater Glen neighborhood. The buyer, a local investor, purchased the property for approximately $2,850,000.
Director Matt Feo represented the seller, a local investor who meticulously maintained the property for more than 20 years. The property was placed under contract just six weeks after listing. Principal Steve Livaditis represented the buyer.
Livaditis said, “Due to the property’s expansive interior floorplans, the purchaser is planning to extensively renovate the property by creating luxury family rentals to meet the needs of this attractive, quaint, NorthSide pocket of Edgewater Glen. Additional dwelling units may be permitted for this project as it falls within the newly adopted ADU Pilot Program.”
The property is situated near the Granville CTA Red Line Station as well as Edgewater’s 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.Read Full Article at Connect Chicago