Essex Realty Group, Inc. is pleased to announce the sale of 1051 W. Pratt Blvd., a sixteen-unit lakefront apartment building located in the best location in the East Rogers Park neighborhood of Chicago. The property has been under the same ownership for over 30 years and has been well maintained during its tenure.
The building’s unit mix consists of three two-bedroom / two-bath and thirteen one-bedroom / one-bath floorplans. Located directly adjacent to Columbia Beach, several of the units feature beach and lakefront views from the living areas of the apartments. Some recent improvements to the property include a Weil Mclain boiler installed in 2021 and a steam A.O.Smith hot water heater installed in 2020. The apartments feature hardwood flooring throughout, and the kitchens and bathrooms have standard rental finishes that have been slightly updated throughout the years.
Within just two days of marketing, Essex generated over 18 tours and multiple written offers. In that same time period, the building went under contract and sold at the full list price.
The subject property is situated on coveted Pratt Boulevard which is one of the only streets in Chicago with an unobstructed view of Lake Michigan. Pratt Boulevard is one of the premier residential streets in Chicago. Tenants have lakefront views and are within walking distance to nearby parks and activity hubs. With just a few steps residents can find themselves enjoying views of Lake Michigan at Tobey Prinz Beach Park or they could walk directly to Columbia Beach which is just outside the building. Adjacent to the park is Loyola Park Tennis Court, which features four regulation size courts that are open to the public.
Known for its beaches, vintage apartments, cultural diversity, and Loyola University, Rogers Park is one of Chicago’s most robust lakefront communities. Just ten miles north of Chicago’s Central Business District, Rogers Park has convenient transportation to and from the city including four CTA “L” stops (Loyola, Morse, Jarvis, & Howard stops); one Metra Train stops at Lunt Avenue; five local bus lines; and the Howard Bus and “L” terminal which is the starting point for north suburban travel.
Rogers Park, boasting a population of just over 60,000 people, stretches along Lake Michigan between Devon and Howard and runs west to Ridge Avenue. The neighborhood is home to over 130 restaurants and just as many diverse retail offerings along its central corridors and quaint, tree-lined streets.
- Sold at Full List Price Only After Two Days of Marketing
- Incredible Beachfront Location with Unobstructed Lake Views
- 16-Unit Walkup Apartment Building in Rogers Park
- First Time Trading Hands in Over 30 Years
- True Value-Add Opportunity
- Competitive Bidding Process with Multiple Offers
- Generational Real Estate