Bucktown Mixed-Use Sells Above Asking Price
Essex Realty Group closed the sale of 2000 W. Armitage Ave., a two-story mixed-use redevelopment opportunity in the North Side’s Bucktown neighborhood. It sold for approximately $1,250,000, which is $255,000 over the list price
The seller, a local investor, hired Essex principals Jim Darrow and Jordan Gottlieb to market the property for sale after several previous attempts to sell the property failed. The Essex team conducted an extensive marketing campaign resulting in more than 16 property tours and four offers. A local nonprofit purchased the property and intends to use the space for its organization.
2000 W. Armitage is situated on a large lot on the heavily trafficked intersection of Armitage Avenue and Damen Avenue. The property was sold vacant. An investment opportunity exists to redevelop the ground-floor commercial space to create luxury apartments or offices.