Essex Realty Markets Hermosa Apartments, Land Parcel
Essex Realty Group has been hired to market the sale of 1618-20 Tripp Ave., an apartment building in Chicago’s Hermosa neighborhood. The property and land parcel are being offered for $1,695,000 by the Essex team of Steven Livaditis and Jacob Goldstein.
The L-shape walkup property includes12 units, seven of which have been recently remodeled with high-end finishes. Investment strategies include operating the deal as-is and raising rents to market level, converting two of the east tier layouts to add an additional bedroom, remodeling kitchens and bathrooms in the five original apartments, and charging tenants for parking in the 13-space adjacent lot.
Situated on the west side of Tripp Avenue, the building is just a short walk from North Avenue and downtown Hermosa. Tenants have a robust selection of local restaurants, bars & boutiques. Additionally, the parcel is located a quarter of a mile east of the Grand/Cicero Metra Station.
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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