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Chicago & Midwest  + North Side  + Apartments  | 

Essex Closes Sale of Mixed-Use in Edison Park

Essex Realty Group closed the sale of 7240 W. Devon Ave. a newer-construction mixed-use property in the Northwest Side’s Edison Park neighborhood. The firm’s Steve Livaditis and Matt Feo marketed the property on behalf of a local ownership group and sold the property within days to a repeat buyer. 

The property was sold for approximately $4,000,000 and the purchaser was represented by Essex Realty’s Jordan Multack. 

7240 W. Devon is comprised of 10 apartments and ground floor commercial spaces, with Dunkin’ Donuts as the anchor retail tenant.  The property was 100% leased at time of sale with no deferred maintenance and the new purchaser plans on maintaining this passive investment while slowly growing rents over time. 

“Located steps away from multiple public transportation arteries and downtown Park Ridge, these modern apartments featured all the latest detail and finishes that attracted the most premier tenants in the market,” said Livaditis.  

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About Paul Bubny

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).

  • ◦Sale/Acquisition
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