Chicago & Midwest + Downtown + Apartments | June 11, 2021

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.”

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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 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).

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