Essex Realty Group, Inc. has been exclusively engaged to market for sale the Sunnyside
Lane Condominiums at 4459 N. Campbell Avenue. Converted to condominiums in
2007, Sunnyside Lane is located in Chicago's Lincoln Square neighborhood, just steps
from the Lincoln Avenue Commercial Corridor and the Western Brown Line Station. The
Property is comprised of eighteen (18) total units, (17) 2Bd/1Ba units and (1) 1Bd/1Ba
unit, which vary between 800 SF and 1,050 SF.
The Property is exceptionally well-maintained due to a pro-active condo board and a
fiscally strong condo association. All units feature exposed brick throughout as well as a
dedicated outdoor space. The six above-grade Campbell units feature two outdoor
spaces, a brick front porch and a rear patio.
Of the 18 units, six are currently rented at an average rate of $1,392/mo. Per the
enclosed rent comps, a new owner should be able to increase these rents an average of
36%. These increases in addition to leasing the owner-occupied at market rent provide
an investor with a strong performing multi-family asset in a coveted location.
Approximately 95% of the unit owners voted in favor of a sale, which under Section 15
of the Illinois Condominium Act, allows a purchaser to acquire all 18 units in their
entirety. The sole owner that voted against a sale has agreed not to protest a sale.
This property is currently under contract.