Essex Realty Group, Inc. has been exclusively engaged to market for sale the Sunnyside Lane Condominiums at 4459 N. Campbell Avenue. Converted to condominiums in 2007, Sunnyside Lane is located in Chicago’s Lincoln Square neighborhood, just steps from the Lincoln Avenue Commercial Corridor and the Western Brown Line Station. The Property is comprised of eighteen (18) total units, (17) 2Bd/1Ba units and (1) 1Bd/1Ba unit, which vary between 800 SF and 1,050 SF.
The Property is exceptionally well-maintained due to a pro-active condo board and a fiscally strong condo association. All units feature exposed brick throughout as well as a dedicated outdoor space. The six above-grade Campbell units feature two outdoor spaces, a brick front porch and a rear patio.
Of the 18 units, five are currently rented at an average rate of $1,425/mo. Per the enclosed rent comps, a new owner should be able to increase these rents an average of 33%. These increases in addition to leasing the owner-occupied at market rent provide an investor with a strong performing multi-family asset in a coveted location.
Approximately 95% of the unit owners voted in favor of a sale, which under Section 15 of the Illinois Condominium Act, allows a purchaser to acquire all 18 units in their entirety. The sole owner that voted against a sale has agreed not to protest a sale.
- Rarely Available Lincoln Square Deconversion
- Full Condo Rehab in 2007
- Steps to Western Brown Line Station
- Exceptionally Clean and Well-Maintained Building
- (17) 2Bd/1 Ba Units and (1) 1Bd/1 Ba Unit
- Deconversion Approved by HOA (94%)