Essex Realty Group Executes Successful Sale of 32-Unit New Construction in Uptown

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., is pleased to announce the sale of 4447-59 N. Hazel St., a 32-unit newly constructed apartment building located in Chicago’s bustling Uptown neighborhood, just steps from Lake Michigan.

The sellers, Brian and Padraic Connolly of Longford Design & Construction, renowned for their high-end condominium developments, presented their signature luxury design to their first multi-family rental projects. Designed with a desirable unit mix of studio, 1, and 2-bedroom apartments with large, open floorplans, including private terraces, this asset was exceptionally well received within the investment market.

Essex Partner Steven Livaditis and Managing Director Matt Feo successfully represented the sellers in the transaction, organizing over 20 property tours and generating significant interest with multiple offers from both local and regional buyers. The property was ultimately awarded to a private local buyer, represented by Managing Director Brian Karmowski.

“This was a rare market opportunity, as Hazel is an exceptionally well-built elevator building featuring outstanding tenant amenities such as a fitness center, private office space, heated garage parking, and more,” said Livaditis and Feo. “The buyers are well-positioned to benefit from continued rent growth, given its prime location within walking distance to Montrose Beach and the lakefront bike trail, making the property highly attractive to new residents.”

Conveniently located only blocks from both the CTA Red and Purple lines, along several CTA bus lines, DuSable Lakeshore Drive, and just minutes Lake Michigan, the property provides easy access to all that the city and surrounding areas can offer.