Essex Realty Group, Inc. is pleased to announce the sale of 1300 W. Hood Ave., a 12-unit corner apartment building located in the highly sought-after Edgewater Glen neighborhood of Chicago. The subject property consists of three (3) 1 Bd/1 Ba units, six (6) 2 Bd/1 Ba units, and three (3) 3 Bd/1 Ba units situated on a double-wide, corner lot with two (2) surface parking spaces. The property was under the same ownership for 20+ years, providing investors with the opportunity to acquire a rarely available asset, in an excellent location, with significant upside.
Due to the properties’ expansive interior floorplans, the purchaser is planning to extensively renovate the property by creating luxury family rentals to meet the needs of this attractive, quaint, northside pocket of Edgewater Glen. Additional dwelling units may be permitted for this project as it falls within the newly adopted ADU Pilot Program. Essex successfully generated 15 property tours and 11 offers.
The subject property is located within the Edgewater Glen pocket of the Edgewater neighborhood on the Noth-Side of Chicago. The lakefront neighborhood of Edgewater is located approximately seven miles north of the Loop and is bounded by the Rogers Park community to the north, Uptown to the south, Lincoln Square to the west, and Lake Michigan to the east. Edgewater is home to several beaches and waterfront parks and the vibrant Bryn Mawr Historic District. Additionally, Loyola University’s Lake Shore Campus is located on the north boundary of Edgewater Glen and is home to over 16,000 students and 1,000 faculty members. Eighteen of Loyola University’s nineteen residence hall buildings are located in the Edgewater and Rogers Park neighborhoods, prompting established retailers and eateries to open convenient locations along the campus’ perimeter.
1300 W. Hood Ave. is steps from many retail and restaurant options along Broadway. Additionally, residents are within walking distance to the Granville CTA Red Line, Whole Foods Market and Loyola University’s Lake Shore Campus.
- Essex Successfully Generated 15 Tours and 11 Offers
- Rarely Available Property in Low-Density Edgewater Glen Location
- Meticulously Maintained by Long-Term Owner
- Attractive Unit Mix of Large 1-Bed, 2-Bed and 3-Bed Apartments with Potential to Add Bedrooms
- Walking Distance to Granville CTA Red Line and On-Site Parking
- Potential to Convert Basement Space into Additional Units Under Chicago’s New ADU Pilot Program
- Delivered 92% Vacant at Closing; Buyer Plans to Renovate