Essex Realty Group, Inc. is pleased to announce the sale of the old Maybelline Headquarters located at 5935 N. Clark St. in Edgewater, 0.25 east of the newly funded Peterson-Ravenswood Metra Station. The historic property is presently configured as a 52-unit mixed-use apartment building comprised of thirty-four (34) studios, twelve (12) 1Bd/1Ba units, three (3) non-conforming 1Bd/1Ba units, one (1) 2Bd/1Ba unit, two (2) non-conforming 2Bd/1Ba units, 18,930 SF of commercial space and a 24-car underground garage.
The purchaser plans to revitalize 9,700 SF of long-vacant commercial space in addition to a full rebrand of the building, interior improvements to the apartments and common areas, and a new rooftop amenity space. Please call for sale price.
The Subject Property is also located just 0.25 miles from the newly funded Peterson-Ravenswood Metro Station. This station is expected to significantly rejuvenate the surrounding area and further expand Andersonville’s footprint. Additionally, current ownership will master-lease approximately 9,700 SF of vacant retail space for $8.59/SF/YR. for up to three years. This equates to $6,944 in monthly income. This allows an investor to maintain steady cash flow while repositioning the vacant space.
- Essex Realty Group, Inc. generated 18+ property tours and multiple offers
- 52-unit historic Maybelline Headquarters building, located immediately north of Andersonville
- Located 0.25 from newly funded Peterson-Ravenswood Metra Station
- Rental upside: Average monthly rents are approximately $100 below market
- Multiple commercial value-add opportunities