Essex Realty Group, Inc. recently facilitated the rare sale of a beachfront apartment building located at 1051 W. Pratt Blvd. in Chicago’s East Rogers Park neighborhood. The property sold at its full list price of $3.4 million.
The Essex team of Steven Livaditis and Jacob Goldstein marketed the property for sale on behalf of a long-term owner who had operated the property for over 30 years. After just two days of marketing the property, Essex procured multiple offers to purchase, and Livaditis and Goldstein sold the property to a local entity that needed to fulfill 1031 exchange requirements.
“There are only a handful of buildings in Chicago that literally sit on the beach with most of the apartments having full lake views,” said Livaditis and Goldstein.. “We generated an incredible amount of activity for this listing due to the multiple value-add opportunities for this generational building/”
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. 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 15-20 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).