Beachfront Apartments Trade in East Rogers Park
Essex Realty Group, Inc. recently facilitated the rare sale of a beachfront apartment building located at 1051 W. Pratt Blvd. in Chicago’s East Rogers Park neighborhood. The property sold at its full list price of $3.4 million.
The Essex team of Steven Livaditis and Jacob Goldstein marketed the property for sale on behalf of a long-term owner who had operated the property for over 30 years. After just two days of marketing the property, Essex procured multiple offers to purchase, and Livaditis and Goldstein sold the property to a local entity that needed to fulfill 1031 exchange requirements.
“There are only a handful of buildings in Chicago that literally sit on the beach with most of the apartments having full lake views,” said Livaditis and Goldstein.. “We generated an incredible amount of activity for this listing due to the multiple value-add opportunities for this generational building/”
- ◦Sale/Acquisition