Essex Realty Group, Inc. is pleased to announce the sale of 501-03 Sheridan Rd. a nine-unit, condominium building located a half block from South Boulevard Beach in the near north suburb of Evanston. The subject property is a three-story, L-shaped walkup-style building. The unit mix consists of nine (9) two-bedroom one-bathroom units. The property has been modernized over the years to meet today’s rental needs with finishes varying from unit to unit. The rear of the building features a dedicated parking area with seven
parking spaces. . Essex led an extensive marketing campaign, generating multiple written offers and creating a competitive bidding process. The property ultimately sold within 95% of the list price to an out-of-state 1031 Exchange buyer.

Evanston, Illinois, a desirable suburb of Chicago, is located 14 miles north of the Chicago’s Central Business District. Bordered by Skokie to the west, Wilmette to the north and Lake Michigan to the east, Evanston is also the home of Northwestern University, which has student population of approximately 16,000 undergraduate and graduate students. Chicago’s Central Business District is easily accessible via the Davis Street and Central Street Metra Stations as well as several CTA Purple Line Stations conveniently located throughout central Evanston.

501-03 Sheridan Rd. is situated in the Evanston Township High School District 219. U.S.News & World Report ranked Evanston Township High School in their 2019, top 1,000 Public High Schools in the nations. Ranked in Forbes’ 2018 Top 25 Towns To Live Well List, Evanston, has a vibrant business community, healthcare, transportation systems and is surrounded by tree-lined streets, multi-million dollar single-family homes, beautiful parks, and lakefront access. Evanston has a diverse population that includes young professionals and community-minded families and features an abundance of high-end retail boutiques, trendy restaurants, cultural institutions, and outdoor activities.

The Evanston community has seen several recent multi-family developments along Ridge Avenue as well as the renovation of commercial buildings in downtown Evanston. These projects have successfully attracted new residents and visitors as well as high-end dining options to the downtown area.

• Sold to Out of State-1031 Exchange Buyer
• Essex Represented Both Sides of the Transaction
• Multiple Offers, Competitive Bidding Process
• Closed Within 95% of List Price and Setting Highest PPU For Like-Kind Building in Evanston
• Located Steps Away from South Boulevard Beach