Essex Realty Group’s Steve Livaditis and Jacob Goldstein have listed a nine-unit apartment property at 3415 N. Elaine Pl. in Lakeview. The property, which features expansive two-bedroom units, has been under the same ownership for more than 30 years.
“This is truly a once-in-a-generation opportunity as these assets do not transact often,” said Livaditis. “Acquiring a building that features some of the largest units in this submarket, with significant redevelopment potential due to the favorable zoning and incredible lot size makes this opportunity extremely special. The investor pool will be extremely deep from both a local and national level.”
This property sits on a lot greater than 15,000 square feet, which provides 26 parking spaces accessed through a curb cut on Elaine Place. Developers will find value in the current zoning, which allows for over more than 30,000 square feet of potential future redevelopment, Essex Realty says.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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