ReJournals | Illinois Multifamily
Essex tapped to sell two multifamily assets in Uptown, Edgewater
January 28, 2021

Essex Realty Group, Inc. has been selected to exclusively market two Chicago properties—4420-4428 N. Sheridan Road in Uptown neighborhood and 1300 W. Hood Avenue in Edgewater.

Delivered in 2019, the boutique Sheridan Road building features 38 units and is listed for $11,750,000.

The unit mix is comprised of one- and two-bedroom floorplans with designer cabinetry, quartz countertops, high-end stainless-steel appliances, spa-quality bathrooms, hardwood floors throughout, in-unit laundry, individual HVAC and ultra-highspeed internet. All tenants also have access to the building’s massive communal rooftop patio.

The 12-unit Hood Avenue property is listed at $2,975,000, offering a new owner the opportunity to obtain a meticulously maintained building in an excellent location, with extensive recent capital improvements.

“The property presents an ideal value-add opportunity for an investor. Considering the vast capital improvements recently made at the property, a new owner can simply perform light cosmetic updates to the units to increase monthly rent. A new owner may also choose to take advantage of Chicago’s new ADU Pilot Program and possibly add additional units in the basement space,” said Essex director and listing broker Matt Feo.

Situated on the corner of Hood and Lakewood Avenue, the building features large apartment units with hardwood floors throughout. Six of the units are accessible via the main entrance on Hood Avenue while the other six units are accessible from Lakewood Avenue. The Hood Avenue units are extremely spacious with formal dining rooms, living rooms, and enclosed sun porches. Given these large floorplans, it could be possible for a new owner to convert the dining rooms into an additional bedroom. The building also features an extensive basement boasting high ceilings and large windows.

Since 1990, Essex Realty Group, Inc. has served Chicago's investment real estate market as a top multifamily real estate brokerage firm. Contact us to learn more about our recent Chicagoland multifamily and mixed-use property sales and talk to a Chicago multifamily broker today.

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