Fairchild Shores Sells for $5 Million in Transaction Arranged by Essex Realty Group

Chicago Multifamily Transaction Overview

CHICAGO, ILLINOIS – Chicago-based multifamily brokerage firm Essex Realty Group, LLC, announced the sale of Fairchild Shores, a 28-unit multifamily property at 6211 North Kenmore Avenue in Chicago’s Edgewater neighborhood.

Essex Principal Steve Livaditis and Managing Directors Matt Feo and Rick Ofman negotiated the transaction, representing both the seller and buyer.

Investment Highlights

Livaditis and Feo stated, “This transaction clearly underscores the importance of assembling the right team to achieve optimal sales results. As our second disposition sale with this client, our close collaboration allowed us to strategically identify the most effective marketing campaign before bringing the asset to market. Within just two weeks of launching the campaign, we attracted strong interest from both national and local investors, creating a competitive bidding environment that generated multiple offers and ultimately resulted in a successful closing with exceptional outcomes for all parties.”

Property Details

Fairchild Shores offered immediate value-add potential for the new ownership, as the in-place rents were approximately 15% below comparable assets in this pocket of Edgewater. The building featured renovated studio and 1-bedroom apartments that included parking.

Prime Location in Edgewater

One block from Loyola University’s Lake Shore Campus and Rosemont Avenue Beach, the property is ideally positioned to capture steady demand for student-oriented and lakefront living. Edgewater’s combination of historic character, popular beaches, and expanding retail and dining continues to make it a sought-after North Side submarket for residents and investors alike.o

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Since 1990, Essex Realty Group, LLC has served Chicago’s investment real estate market as a top multifamily brokerage firm, specializing in Chicago multifamily for sale properties. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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