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Wicker Park Sale Achieves New High for Price Per Unit
Essex Realty Group brokered the $4.3 million sale of 2351 W. North Ave., a seven-unit luxury new construction mixed-use property in Wicker Park. The $614,285 price per unit set a new record for the neighborhood.
Principal Steven Livaditis represented the seller, a local developer/investor. The property sold to a 1031-trade buyer and the transaction closed within 30 days of going into contract.
“This is another example of the demand for high-quality real estate located in fundamentally strong North Side neighborhoods,” said Livaditis. “Although most of the building was still in lease-up mode prior to closing, all the parties felt extremely confident that the projected rents were attainable given the rental demand for these types of luxury units.”
Recently completed, the property is comprised entirely of four-bedroom/four-bath units. It’s located near the 606, and within half a mile of both the Western and Damen Blue Line CTA stations.
- ◦Sale/Acquisition
