Family Partnership Ends 40-Year Hold on Lakeview Apartments

Essex Realty Group closed the sale of 3812 N. Wayne Avenue, a six-unit multifamily property located in the North Side’s Lakeview neighborhood. Placed under contract after three weeks on the market, the property traded for $1.825 million.

Essex principals Jim Darrow and Jordan Gottlieb represented the buyer, a local family office. Principal Steve Livaditis represented the seller, a family partnership.

“This was quite a unique offering,” said Livaditis. “The property had been meticulously maintained and has been under the same family partnership for over 40 years.

“This pocket of Lakeview is one of the most sought-after areas for families and tenants,” he continued. “And due to the size and layouts of the apartments, there were multiple value-add options for this asset which intrigued the market.”

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales.