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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.
- ◦Sale/Acquisition
