Essex Realty Group, Inc. is proud to announce the sale of 4954 N. Ridgeway Ave. in the Albany Park neighborhood. The subject property is a 22-unit condominium building located at the Southwest corner of Ridgeway Ave. and Argyle St. A majority of the building was owned by a single investment group that had most of their units rented, while the remaining units were owned by individual homeowners. Essex was exclusively engaged by the condominium board to list and market the entire property for sale. Through a competitive marketing process, Essex procured a handful of showings and several offers on the property. The ultimate purchaser had worked with Essex Realty Group, Inc. on a different transaction very recently and was comfortable with working through the complexities of this type of transaction.
The subject property is conveniently located in the heart of the Albany Park neighborhood on Chicago’s North-side. The neighborhood is bordered by Bryn Mawr Ave. to the north, Montrose Ave. to the south, the Chicago River to the east, and Pulaski Rd. to the west. Albany Park is one of seventy seven well defined community areas in Chicago and is situated approximately eight miles from downtown Chicago’s Business District. The property sits on a quiet tree-lined street surrounded by two-flats, three-flats, and single-family homes. The immediate area surrounding the subject property is low-density and primarily residential with retail shopping just minutes away.
4954 N. Ridgeway is just 2 blocks from many retailers and restaurants along Lawrence Ave. Residents are within walking distance to Walgreens, Lawrence Fish Market, Rojo Gusano, and Dokil Bakery. Additionally, the subject property is situated adjacent to a sub-neighborhood of Albany Park called North Park. North Park has become an increasingly popular destination for families and young professionals to reside. Northside College Preparatory High School is just an eight minute drive from the subject property. Northside has earned a reputation for academic excellence, and has been consistently ranked as the #1 high school in Illinois by US News and World Report.
- Phenomenal Albany Park Location
- 22-Unit Condo De-Conversion Building
- Essex Generated Multiple Offers
- Closed Within 96% of List Price
- 1031 Exchange Buyer