Essex Realty Group Brokers the Sale of 4630 N. Beacon St.
January 12, 2018

2017 was another record for year for Essex Realty in facilitating condo deconversion opportunities.

This sale was a 41-unit condominium building located at 4630 N. Beacon St. in the heart of Sheridan Park, a sub-market of the booming Uptown neighborhood in Chicago.

The building, originally developed as rental apartments, was constructed in approximately 1923 and was converted to condominiums in 2002 by a local developer. During the recession in the late 2000's, many of these units saw a decline in value and many of the homeowners chose to lease their units to tenants due to the active rental environment. This property was a perfect condo deconversion candidate and the unit mix consisted of studio and one-bedroom units.

Essex procured over 20 individual property tours with national and local investors, and through a “call for offer” process received numerous written offers.  The property sold within 30 days of marketing for $6,535,000.

Steven Livaditis and Joe Scheck represented both the condo association and the purchaser in this sale.