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First Western Closes Deal for Edgewater Apartments
First Western Properties has arranged the sale of a two-building apartment property in the North Side’s Edgewater neighborhood. The 76-unit 6000 and 6002 N. Winthrop Ave. traded for approximately $10.7 million, or $141,026 per unit.
The firm’s Paul Tsakiris, Yannis Arbis and Melsi Bifsha marketed the lakefront property, which received multiple offers. It’s within walking distance to the CTA’s Thorndale Red Line Station, Lake Michigan and Lane Beach, along with shopping options along nearby Broadway including Whole Foods, LA Fitness, Walgreens, Target and Edgewater Public Library.
“Amongst many renovations and upgrades, this meticulously maintained property has been fully occupied for decades, and is prime for expansion or upgrading to enhance its favorable zoning,” according to First Western. “Its proximity to transportation and to Loyola University make it a gem in a neighborhood voted as Chicago’s best place to live, and an opportunity for investors and developers alike.”
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- ◦Sale/Acquisition
