Lakeview Apartment Sale Represents “Hat Trick in Chicago Real Estate”

Essex Realty Group recently facilitated the sale of 3500 N. Fremont St., an apartment property in the North Side’s Lakeview neighborhood. Located near Wrigley Field, the property sold to a local investor for $6,200,000, or $172,222 per unit.

The seller, a local investor, hired the Essex team of Jim Darrow and Jordan Gottlieb to market the property for sale. Essex Principal Steve Livaditis represented the buyer.

“The building offered the buyer what I will call a Hat Trick in Chicago real estate: bright and sunny apartments due to the corner location, the ability to significantly raise rents, and of course the rare opportunity to be able to purchase 36 units less than two blocks from the world-famous Wrigley Field,” said Darrow.

Twenty of the property’s 36 units have been renovated. The property presented an opportunity for an investor to add value by updating the remaining units.

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, or click HERE.

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