Essex Tapped To Sell 65-Unit Edgewater Beach Multifamily Property

May 02, 2022

Essex Realty Group, Inc., a commercial real estate brokerage firm based in Chicago, has been exclusively retained to market for sale 5417 N. Kenmore Avenue in Chicago’s Edgewater neighborhood.

This 65-unit corridor-style apartment building with a beautiful terra cotta façade is comprised primarily of studio and one-bedroom apartments. The units feature laminate floors, white kitchen appliances, spacious closets, and radiator heating. The common areas include a spacious lobby and laundry room. Plus, the property includes one passenger elevator, one freight elevator and one first floor bonus unit that is currently being used by maintenance. This property provides an investor with a value-add opportunity to update the units to capture the top of the market rents in this great neighborhood with a large and consistent rental market.

The property is located less than 2 blocks from the CTA Balmoral Red Line CTA Station at Kenmore Avenue and Balmoral Avenue and conveniently located just three blocks from the Bryn Mawr Red Line CTA Station. Chicago’s beautiful lakefront and Foster Beach are located just one-half mile east of the property. 5417 N. Kenmore Avenue is currently listed at $8,320,000 by the Essex team of Jim Darrow, Jordan Gottlieb and Sarah Rider.

Chicago’s Edgewater neighborhood is active. The Essex team recently sold a 27-unit, two-building portfolio located at 6257 N. Lakewood Avenue and 1214 W. Rosemont Avenue for $5,250,000.

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