Essex Realty Group Brokers Lincoln Park Condo Deconversion Sale
Steven Livaditis and Joe Scheck of Essex Realty Group were exclusively hired to represent the association board and the homeowners in a condo deconversion sale of 915 W. Montana St. in Chicago.
The eighteen (18) unit condominium building is located in the premier Lincoln Park neighborhood on Chicago’s North-side. Essex marketed all the condominium units to be sold in their entirety, allowing a buyer the potential to deconvert the association and operate the property as an apartment building.
The property is a three-story, brick building that featured one-bedroom units with multiple floorplans. All the units had either individual patios or balconies, various levels of kitchen and bathroom finishes, and a handful of units featured vaulted ceilings. Additionally, the property included an 18-space parking pad.
915 W. Montana St. is located on one of the most affluent streets in Lincoln Park due to the low density of rental units, new single-family homes, and new high-end condominium construction.
Through aggressive marketing efforts, Essex was able to procure over 20 property tours and produce multiple written offers. The property closed within 5 weeks of final homeowner sale approval to Bertsch Properties.
The sale price was approximately $4,314,000.
Steve Livaditis and Joe Scheck also represented the purchaser in this transaction.