Essex Realty Lists Fulton River Mixed-Use with Multiple Revenue Streams
Essex Realty Group is marketing 401-409 N. Milwaukee Ave., a mixed-use property in the Fulton River District. The property is listed for sale at $4,600,000 by Essex principal Jordan Gottlieb and director Brian Karmowski.
The property includes six apartments, a first-floor restaurant space occupied by Perilla, a billboard and a six-space parking lot. In addition to apartment and commercial income, the property also generates monthly income from the 24’ x 25’ billboard, which is leased to Outfront Media Chicago, and from Reef Kitchens, a local food truck that leases one of the parking spaces.
Gottlieb said, “This is an incredibly rare opportunity to purchase a building of this size and quality in this location so close to River North, Fulton Market, West Loop and the central business district. The building is unique and creates value from several different revenue streams.”