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Chicago & Midwest  + Downtown  + Apartments  | 
858 N Franklin Chicago

Essex Team Closes Sale of River North Apartments

Essex Realty Group recently facilitated the off-market sale of 858 N. Franklin St, a 23-unit luxury boutique apartment building in River North. Principals Jim Darrow, Jordan Gottlieb, Steve Livaditis and Director Matt Feo represented the buyer, a local investor, who paid $12.4 million. 

Completed in 2015, the building is comprised of oversized one-, two-, and three-bedroom floorplans averaging 1,250 square feet.  Most units include outdoor space while the two penthouse units include oversized terraces of up to 1,200 square feet.  

“The emphasis on larger apartments and outdoor space is what sets this apart from most other newer construction properties,” said Darrow. “At a time when most developers were focusing on building smaller apartments, this developer zagged and built a larger product most typically associated with condominiums.” 

The property is situated on the northwest corner of Franklin and Chestnut streets, adjacent to the proposed Moody Bible Institute Redevelopment Plan. 

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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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