Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Andersonville Multifamily Sale Sets Per-Unit Pricing Record
Essex Realty Group, Inc. recently facilitated the sale of 1420 & 1426 West Winnemac Ave., a 12-unit multifamily portfolio in the Andersonville neighborhood on Chicago’s North Side. It sold to a local investor and repeat Essex client for $4,500,000, the highest per-unit price for a non-renovated building in Andersonville.
An Essex Realty multifamily team led by Steven Livaditis and Brian Karmowski marketed the properties on behalf of ownership, also a local investor. to exclusively market the properties for sale. “This was a rare offering with multiple investment strategies for a new owner, and I couldn’t have been happier to have sold it to a repeat client,” said Livaditis.
He added, “This is a phenomenal pocket of Andersonville, and there is such a limited supply of housing and inventory that demand is off the charts for these units.” An upzoning created the potential to add four additional units to the properties.
- ◦Sale/Acquisition
