Essex Realty Group Brokers the Sale of 659 W. Aldine Ave.
December 8, 2017 09:11 AM
659 W. Aldine Avenue is a nine (9) unit condominium building located in the premier East Lakeview neighborhood on Chicago’s North-side. Essex represented the 659 W. Aldine association in the sale of all the condominium units allowing the buyer to potentially de-convert the association and operate the property as an apartment building.
The property is a two-story, brick building constructed in 1970. The unit mix consists of one (1) studio unit located on the ground floor, six (6) one-bedroom units, and two (2) larger one-bedroom units. Most of the units have received modern updates such as granite countertops, quality cabinetry, stainless steel appliances, and dishwashers.
659 Aldine Ave. is located on one of the most affluent streets in East Lakeview due to the low density of rental units, new single-family homes, and new high-end condominium construction.
Through aggressive marketing efforts, Essex was able to procure over 30 property tours and several written offers. The property ultimately transacted at the full list price.
The sale price was approximately $2,050,000.
Steven Livaditis and Joe Scheck were the brokers on the transaction. This is the third condominium deconversion transaction closed in recent months by Livaditis and Scheck and their team has several additional condominium deconversion deals under contract and scheduled to close before year end.