Ravenswood Mixed-Use Trades to Local Buyer

Essex Realty Group arranged the sale of 4401-4407 N. Mozart St., a 19-unit mixed-use property in the North Side’s Ravenswood neighborhood. The buyer, a local investor, paid approximately $3,423,000.

Steve Livaditis, principal with Essex, represented the buyer. Essex directors Abe Eilian and Matt Feo represented the seller, a local investment group.

“We brought this property to market in July and because the property is 100% occupied and we wanted to respect the wishes of the tenants during this pandemic, we created virtual Matterport tours for the units,” said Feo. “It was a different, yet successful, experience swapping Matterport links for traditional property tours, and after receiving multiple offers we placed the property under contract within one month of releasing it to the market.”

Gut-rehabbed in 2015, the property offers a mix of one- and two-bedroom units. The ground-floor retail space is occupied by an architectural design firm.

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales.