Essex Realty Group, Inc. has been exclusively engaged to market for sale 1223-25 W. Foster Ave., a seven unit walk-up building located in Chicago’s Andersonville neighborhood. The property is currently comprised of five (5) 2 Bd/1 Ba apartments and two (2) 3 Bd/1 Ba apartments totaling roughly 7,900 NRSF. The property also includes a two car garage and three surface spaces for tenants. The six above-grade apartment units range in size from 1,100 – 1,200 SF and the legal garden unit is roughly 800 SF.
1223-25 W. Foster Ave. appeals to investors seeking a lucrative value-add opportunity in one of Chicago’s most sought-after neighborhoods. Current rents are nearly 20% below market and significant upside can be achieved with little-to-no work other than simply turning the units. Additionally value can be accomplished with condo-quality updates…
Andersonville is a vibrant neighborhood located in western Edgewater on the North Side of Chicago. Situated roughly seven miles north of Chicago’s Central Business District, Andersonville offers residents and visitors a culturally rich community within close proximity to downtown Chicago. Lake Michigan, located just a few blocks to the east, also offers residents easy access to the lakefront’s numerous amenities.
Andersonville features a bustling commercial corridor that is largely comprised of the Andersonville Commercial Historic District which runs from 4800 N. Clark Street to 5800 N. Clark Street. This stretch includes several local and national retailers, restaurants and bars that work in conjunction to provide an appeal of charm and convenience for Andersonville’s diverse population.
- CLOSED ABOVE LIST PRICE
- Listed on August 23rd, 2016
- Essex Procured 30 Tours Within One Week of Marketing
- "Call for Offers" Due to High Volume of Activity
- Multiple Competitive Offers
- Signed Contract 12 Days from Listing the Property
- Closed 43 Days from Listing the Property