Essex Realty Group brokers sale of $5 million bulk condo opportunity

Essex Realty Group, Inc. announced the sale of 66 condominium units within the Tatra Condominium complex located at 10520-10640 Brooks Lane in Chicago Ridge, Illinois.

A local Chicagoland investor purchased the condo units for approximately $5,000,000, adding to their existing suburban portfolio. The 66 units represent approximately 43 percent of the HOA for Tatra Condominiums. The offering presented the investor with the opportunity to gain a near majority position in the HOA as well as add value through raising rents to market rates. Essex managing director, Brian Kochendorfer, represented the seller, while Essex director, Troy Beebe, represented the buyer.

This is the thirrd suburban transaction closed by Essex Realty Group, Inc. in the last two weeks–4735-4749 West 101 Street in Oak Lawn and 705 West Park Avenue in Libertyville closed as well.