IMAGE: Matt Feo & Steve Livaditis
ADDRESS: 1300 W. Hood Avenue
MARKET: Chicago, Il
ASSET TYPE: Multifamily
BROKERS: Matt Feo @Matt_Feo_Multifamily & Steve Livaditis - @ChicagoMultifamily_EssexRealty
SALE PRICE: $2,850,000
UNITS: 12 ~ PPU: $237,500
NOTE: Chicago based multifamily brokerage firm Essex Realty Group, Inc. is pleased to announce the sale of 1300 W. Hood Avenue, a 12-unit multifamily property located in the sought-after neighborhood of Edgewater Glen.
Essex Director Matt Feo represented the seller, a local investor, in this transaction. The seller meticulously maintained this property for more than 20 years. The property was placed under contract just six weeks after listing. During the marketing period, Essex brokers conducted 15 property tours and generated 11 offers. The buyer, a local investor, purchased the property for approximately $2,850,000. Essex Principal Steve Livaditis represented the buyer.
The property is situated on the corner of Hood and Lakewood Avenue and features large apartment units with hardwood floors throughout. Six of the units are accessible via the main entrance on Hood Avenue while the other six units are accessible from Lakewood Avenue. The Hood Avenue units are extremely spacious with formal dining rooms, living rooms, and enclosed sun porches. The building also features an extensive basement boasting high ceilings and large windows.
According to Livaditis, “Due to the properties' expansive interior floorplans, the purchaser is planning to extensively renovate the property by creating luxury family rentals to meet the needs of this attractive, quaint, northside pocket of Edgewater Glen. Additional dwelling units may be permitted for this project as it falls within the newly adopted ADU Pilot Program.”
The property is situated steps from the Granville CTA Red Line Station and an abundance of restaurant and retail options along Granville Avenue and Broadway. The location is also in close proximity to Edgewater’s beautiful parks and beaches and Loyola University's Lake Shore Campus.
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