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78-Unit Apartment Property Up for Sale in Jackson Park Highlands
Essex Realty Group was selected to market for sale 6700 S. Constance Ave., a 78-unit apartment building in Chicago’s historic Jackson Park Highlands district. Jordan Gottlieb and Brian Mond lead the marketing efforts of the property, which is listed for $4,950,000.
The vintage double courtyard building, which recently underwent more than $1 million in cap-ex improvements consists of 41 oversized studio and 37 large one-bedroom apartments. There is significant rental upside upon completion of light construction and leasing the building up at market rates, according to Essex. The property is offered 100% vacant, giving a new owner the opportunity to begin construction on all 78-units right away.
“It is rare that we bring a vacant building to market. New owners have a unique opportunity to customize each unit to meet their vision and lease up the apartments, maximizing rental income in a thriving neighborhood,” said Mond.
- ◦Sale/Acquisition
