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Lincoln Park Apartments List for First Time Since 1977
Essex Realty Group has listed 822 W. Wrightwood Ave., a Lincoln Park multifamily property available for the first time since 1977. The seller is asking $3.7 million for the 13-unit property, which has undergone recent capital improvements.
“This property is not only situated in a prime location in Lincoln Park on the northeast corner of Wrightwood and Dayton, but it also offers a new owner a variety of investment strategies,” said Jordan Gottlieb, Essex Realty Group principal and broker for the property.
He added, “If the proposed [accessory dwelling unit] ordinance passes, a new owner could also add an additional apartment unit by utilizing the basement space.”
The property has been meticulously maintained by its long-term owners. A new investor has the opportunity to make updates to kitchens and baths and add individual HVAC and in-unit laundry to increase rents substantially, or to continue operating the property as-is.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
