Essex Realty Group, Inc is proud to announce the sale of 915 W. Montana St. The subject property was an 18-unit condominium building located adjacent to the intersection of Lincoln Ave. and Montana St. in the Lincoln Park neighborhood of Chicago. Per Section 15 of the Illinois Condominium Act, Essex had been engaged to represent the 915 W. Montana Association in the sale of all condominium units.
The subject property is conveniently located in the heart of Chicago’s Lincoln Park neighborhood. Located just north of downtown Chicago with Lake Michigan to the east and the Chicago River to the west, the neighborhood is regularly considered to be one of Chicago’s wealthiest and most affluent communities to live in.
915 W. Montana St. sits adjacent to the intersection of Montana St. and Lincoln Ave. on a quiet, tree-lined street accompanied by small vintage apartments, condominium buildings, and high-end single-family homes. The immediate pocket surrounding the building is primarily residential with a major commercial stretch within steps from the subject property. One block east of the property on Lincoln Avenue sits nationally recognized retailers such as Starbucks, Chipotle, and Potbelly accompanied by popular night life destinations including Lincoln Hall and The Red Lion Pub. Additionally, the property is a little over a half mile from Francis W. Parker School which is perhaps one of the most reputable private schools in Chicago.
DePaul University is within walking distance and possesses a student body with more than 25,000. DePaul is the 13th largest private university by enrollment in the United States and the largest private university in Illinois. The presence of the school coupled with Lincoln Park’s appeal to a younger demographic creates a large demand for rental housing in the area.
The Lincoln Park area continues to flourish with large, new developments occurring steps from the subject property. In November of 2016, a six-acre mixed-use development known as the Lincoln Common broke ground. The brand-new development will be replacing the old Children’s Memorial Hospital which spans along Lincoln Ave. between Belden and Fullerton. The Lincoln Common is a ground-up development which will host 100,000 SF of retail space, 538 apartments, 40 luxury condominiums, an 850-stall parking garage, and a 156-room senior living facility. This project will enhance the already desirable neighborhood with a diversity of housing options, new shops and restaurants, beautiful new parks, and increased pedestrian access.
Another major development that will positively impact the Lincoln Park community is the “Elevate” apartment complex. Located on the North West corner of Lincoln and Altgeld, Elevate will deliver 191 apartments, 16,300 SF of ground level retail space, and parking for 138 vehicles. Elevate will be move in ready as of May 1st, 2018.
915 W. Montana sits in the center of multiple available transportation options allowing for a relatively easy and convenient commute to downtown Chicago’s business district. The CTA Fullerton “L” Station is within 5 minutes of walking distance from the subject property. The Fullerton Stop is one of only two stations that access the red, brown, and purple lines providing commuters unlimited flexibility. Bus lines that are easily accessible within walking distance include the 74, 8, and 37. 915 W. Montana St. is just a few blocks from Lake Shore Drive. Lake Shore Drive is an expressway running parallel to the shoreline of Lake Michigan and allows quick highway transportation to downtown Chicago.
- Condo Deconversion Sale Lincoln Park
- Multiple Written Offers
- Competitive Bidding Process
- 18 Units With 18 Parking Spaces
- 18 Separate or Individual Sellers (Condo Owners)
- Closed Within 5 Weeks of Completing Due Diligence