Essex Realty Group Announces Sale Of Edgewater Glen Multifamily Property For $2.85M

Chicago based multifamily brokerage firm Essex Realty Group, Inc. has announced the sale of 1300 W. Hood Avenue, a 12-unit multifamily property located in the sought-after neighborhood of Edgewater Glen. The property, situated on the corner of Hood and Lakewood Avenue, features large apartment units with hardwood floors throughout. The building also boasts an extensive basement with high ceilings and large windows. The property was meticulously maintained by the seller, a local investor, for over 20 years. It was listed for sale and placed under contract within six weeks. During the marketing period, Essex brokers conducted 15 property tours and generated 11 offers. The buyer, also a local investor, purchased the property for approximately $2,850,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,850,000
• Address: 1300 W. Hood Avenue, Chicago, IL
• Market: Chicago, IL

Essex Director Matt Feo represented the seller in the transaction. Essex Principal Steve Livaditis represented the buyer. According to Livaditis, the purchaser plans to extensively renovate the property and create luxury family rentals to cater to the attractive and quaint northside pocket of Edgewater Glen. The property is conveniently located near the Granville CTA Red Line Station and offers easy access to an abundance of restaurant and retail options along Granville Avenue and Broadway. It is also in close proximity to Edgewater's beautiful parks and beaches, as well as Loyola University's Lake Shore Campus.