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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).