Essex Realty Group, Inc. is proud to exclusively offer for sale 7609 N. Eastlake Terrace, the “Beach House,” a 5-unit fully renovated apartment building located on Lake Michigan. The Subject Property offers 1:1 parking and boasts unobstructed lakefront views and riparian rights. Located just 0.5 miles from the Jarvis train station, the Beach House provides residents with lakefront living just north of the city with easy access to downtown Chicago.
The Beach House is situated on coveted Eastlake Terrace which is one of the only streets in Chicago with an unobstructed view of Lake Michigan. Eastlake Terrace is one of the premier residential streets in Chicago. It features a quiet neighborhood setting and unparalleled access to Lake Michigan. It is also located 0.25 miles from Evanston, and just 2 miles from downtown Evanston’s vibrant commercial district.
- Essex procured over 15 tours and multiple written offers within the first two weeks of marketing.
- The property was under contract within 3 weeks and sold within 95% of list price, the highest per unit multi-family sale Rogers Park of 2018.
- One of only a few remaining lakefront apartment buildings in Chicago.
- Turnkey, lakefront investment property, fully renovated in 2017.
- Unit mix: (5) 2Bd/2Ba apartments and (5) surface parking spaces; 1:1 parking.
- Renovation included roof, seawall, kitchens, bathrooms, wood plank flooring, and in-unit laundry.
- Unobstructed views and private access to Lake Michigan.
- 5.35% Cap Rate / 12.79 GRM