Essex Lists Beautiful Courtyard Mixed-Use Building in Chicago’s Austin Neighborhood

October 24, 2022

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been selected to exclusively market 1149 South Mason Avenue for sale, a mixed-use courtyard building located in Chicago’s Austin neighborhood.

This 29-unit attractive brick building is situated on the northeast corner of Mason Avenue and Roosevelt Road and boasts an array of floorplans which include studio, 1-bedroom, 2-bedroom, and fully leased commercial units.

1149 Mason Ave is a quality high cash-flowing asset in a great pocket of Austin. The courtyard entrance of the building sits on Mason Ave, where you are surrounded by large single-family homes nestled on a peaceful street, while the retail sits on Roosevelt, perfect for the heavy foot traffic. This is an ideal opportunity for investors and lenders seeking a stable asset with solid cash yields. We anticipate vigorous activity from our suburban investors due to the proximity to Berwyn, Cicero, and Oak Park” said, Essex Director Anthony Citriglia.

In addition to the stable tenant base, and national retailer Boost Mobile, the building had received several capital improvements, which included a new boiler, updated electric, and rebuilt rear porches.

The property is listed for sale by Essex Principal Steven Livaditis and Director Anthony Citriglia for $1,850,000. The list price reflects a cap rate of 8.21%, and the forecasted return is approximately 17.9% in the first year.

Please contact Essex today to schedule a showing of this property.

Tagged in this post: Steven Livaditis , Anthony Citriglia