Essex Closes Bucktown Mixed-Use Building Sale $255K Over List Price

Essex Realty Group, Inc. has announced the sale of a mixed-use redevelopment opportunity located at 2000 W. Armitage Avenue in Chicago's Bucktown neighborhood. The two-story building is situated on a large lot at the highly trafficked intersection of Armitage Avenue and Damen Avenue. The property, sold vacant, offers the potential for ground floor commercial space to be redeveloped into luxury apartments or offices. The property was listed for sale with an asking price of $995,000 and closed at a sale price of $1,250,000, exceeding the list price by $255,000. The buyer, a local non-profit organization, intends to utilize the space for its operations.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,250,000 (Sale Price)
• Address: 2000 W. Armitage Avenue
• Market: Bucktown, Chicago

The seller of the property hired Essex Principals Jim Darrow and Jordan Gottlieb to exclusively market the property for sale after previous unsuccessful attempts. Essex conducted a comprehensive marketing campaign that resulted in 16 property tours and four offers. The transaction attracted significant interest and closed at a price well above the initial list price. The property's prime location near major transportation hubs, including Western & Damen Blue Line CTA Stations and the Clybourn Metra Station, provides tenants with convenient access to public transportation options.