Essex Realty Group Brokers the Sale of 1244 W. Byron St.
January 12, 2018 09:14 AM
Essex completes another condominium deconversion sale. The Byron St. property was modern, walk-up style property featured 21 condominium units at the corner of Byron and Clark St. in the Lakeview neighborhood of Chicago.
The building consisted of one and two-bedroom units with 21 parking spaces. The condominium units were in excellent condition and most featured stainless appliances, updated cabinetry, in-unit laundry, and balconies.
All the unit owner cooperated in the sale and they were able to realize an impressive equity appreciation by pooling together and selling their individual condo units in bulk to a local apartment investor.
Within weeks of marketing the property, we were able to generate over 25 property tours from local and regional clients which concluded with 8 competitive offers for the property. Ultimately the property sold to a 1031-trade buyer for a price of $6.4 million.
Steve Livaditis and Joe Scheck represented the parties in this transaction.