Essex Realty Group Brokers the Sale of a Multifamily Building in North Center
January 24, 2018 04:21 PM
Steven Livaditis and Joe Scheck of Essex Realty Group just closed on 1901 W. Bradley Place in Chicago. The property was an 8-unit brick, walk-up building located at the southwest corner of Bradley Place and Wolcott Avenue in the North Center neighborhood of Chicago.
The unit mix consists of seven (7) 1 Bed / 1 Bath layouts and one (1) 2 Bed / 1 Bath layout. The apartments were not extensively renovated; however, they displayed ornate vintage charm. The property also featured a large, well-landscaped backyard which provided an added amenity for the tenants.
The Seller was a private, long-term investor who owned and managed the property for over 25 years. He had kept the property in meticulous condition and the rents in the building were competitive in the market. The Purchaser was a local, private investor who owns other properties throughout Chicago.
Essex Realty Group, Inc. procured over 20 individual property tours within two weeks of marketing. There were multiple written offers.
The sale price was approximately $1,850,000.
Steven Livaditis and Joe Scheck represented both the seller and purchaser on this transaction.