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Essex Closes Lincoln Park Multifamily Sale at Top Price-Per-Unit
Essex Realty Group has completed the sale of 2023-2025 N. Racine Avenue, a 12-unit apartment building located in the Lincoln Park neighborhood.
The transaction was brokered by Essex Principal Steve Livaditis, who represented the seller, and Essex Principal Jim Darrow, who represented the buyer. The walk-up building features a balanced mix of six one-bedroom and one-bath units as well as six two-bedroom and one-bath units.
Most of the units have recently been upgraded, including modernized kitchens and bathrooms, individual HVAC systems, and in-unit laundry facilities. “This opportunity stood out due to its exceptional location in Lincoln Park and the multitude of value-add strategies available,” said Steve Livaditis, Principal at Essex Realty Group.
The asset sold at one of the highest price-per-unit benchmarks for a non-renovated building in Lincoln Park this year. Situated in the heart of Lincoln Park, the property is within walking distance of the Armitage CTA Brown Line station. Its location offers immediate access to dining, shopping, and parks.
