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Chicago & Midwest  + North Side  + Apartments  | 

Uptown Walk-Up Apartments Trade for $5.75M

4400 N. Magnolia Ave. has traded for $5.75 million, approximately 97% of the original asking price. The property is a 36-unit, corner walk-up apartment building at the intersection of Magnolia and Montrose in the Sheridan Park submarket of the North Side’s Uptown neighborhood.

The sellers, a private real estate fund, hired Essex Realty Group’s Joe Scheck and Steven Livaditis to exclusively represent them in the disposition of 4400 N. Magnolia. Essex procured over 20 property tours and several written offers.

Matt Feo of Essex represented the buyer, a local real estate company. The property was under contract within four weeks of hitting the market, and closed eight weeks later.

Essex notes that Uptown has recently become a highly-desirable location for investors, and apartment buildings of this size rarely trade in this market.

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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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