Family Partnership Ends 40-Year Hold on Lakeview Apartments
Essex Realty Group closed the sale of 3812 N. Wayne Avenue, a six-unit multifamily property located in the North Side’s Lakeview neighborhood. Placed under contract after three weeks on the market, the property traded for $1.825 million.
Essex principals Jim Darrow and Jordan Gottlieb represented the buyer, a local family office. Principal Steve Livaditis represented the seller, a family partnership.
“This was quite a unique offering,” said Livaditis. “The property had been meticulously maintained and has been under the same family partnership for over 40 years.
“This pocket of Lakeview is one of the most sought-after areas for families and tenants,” he continued. “And due to the size and layouts of the apartments, there were multiple value-add options for this asset which intrigued the market.”
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).