Lakeview Corner Multifamily Property Sells for $10,850,000 in Transaction Brokered by Essex Realty Group

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC is pleased to announce the sale of 2848 North Seminary Avenue, a 19-unit apartment building located in Chicago’s Lakeview neighborhood. The property closed at a sale price of $10,850,000.

Transaction Summary

• Transaction Type: Lakeview Apartment Building Sale
• Address: 2848 N. Seminary Avenue, Chicago
• Neighborhood: Lakeview
• Property Type: Multifamily Apartment Building
• Unit Count: 19 Units
• Sale Price: $10,850,000
• Brokers: Principal Jim Darrow, Principal Jordan Gottlieb, Director Brian Keegan, and Principal Steve Livaditis

Property Overview: 19-Unit Apartment Building in Lakeview

The corner property features a desirable mix of two-bedroom apartments and expansive three- and four-bedroom duplex units. Following a complete gut renovation in 2018, the building was updated with modern floor plans and high-end finishes, including in-unit laundry, hardwood floors, stainless steel appliances, quartz countertops, and outdoor parking.

During the marketing process, the Essex Realty Group team conducted several investor tours and generated multiple competitive offers, highlighting continued demand for well-located apartment buildings in Chicago’s North Side neighborhoods.

Who Represented the Lakeview Apartment Building Sale

Principal Jim Darrow, Principal Jordan Gottlieb, and Director Brian Keegan represented the seller. Principal Steve Livaditis represented the buyer in the transaction.

“The ability to purchase larger buildings in Lakeview or Lincoln Park is becoming increasingly scarce, and this offering generated strong interest from investors seeking high-quality assets in premier North Side locations. The purchaser was drawn to the well-designed layouts and high-end finishes, making it an ideal opportunity to complete a 1031 exchange,” said Jim Darrow.

Lakeview Multifamily Investment Market

The property is situated just north of Diversey Parkway, offering immediate access to the Diversey, Wellington, and Belmont CTA stations, as well as service on the Brown, Purple, and Red Lines. Residents benefit from walkable access to Lake Michigan, Diversey Harbor, and are located approximately one mile from Wrigley Field.

Lakeview remains one of Chicago’s most desirable multifamily submarkets, supported by strong renter demand, proximity to major employment centers, and a vibrant retail and dining corridor along Clark Street and Sheffield Avenue. Limited new supply and consistent demand from young professionals and families continue to drive investor interest and support strong asset values throughout the neighborhood.

Read More About This Transaction

This Lakeview apartment building sale was also featured in Bisnow, highlighting continued investor demand for Chicago multifamily assets.

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About Essex Realty Group

Essex Realty Group, LLC has served Chicago’s investment real estate market since 1990 as a leading Chicago multifamily brokerage firm specializing in apartment building sales throughout the city and surrounding suburbs.