CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 1232-40 N. Milwaukee, in Chicago, Illinois. The Subject Property consists of four commercial condominiums constructed in 2006. The property contains +/- 4,275 net rentable square feet and is currently divided into three (3) separate units.
The property benefits from it's excellent location and visibility on Milwaukee Avenue. The property will also benefit from a new fifteen million dollar redevelopment across the street which already has 100,000 SF of tenant commitments. The area's strong demographics and popularity draws many national retailers including Chase Bank, Bank of America, Dunkin Donuts, H & R Block, CVS, Starbucks, LA Fitness, Foot Locker and many more.
Jim Darrow and Jordan Gottlieb of Essex represented the seller and David Schwartz of Essex represented the buyer in the transaction. The price was approximately $1,150,000.
Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago Metropolitan area. Since its founding in 1990, Essex has carved a unique niche, focusing exclusively on the brokerage of investment properties valued between $1 million and $30 million, with a strong emphasis in multi-family, retail and shopping center sales.
Our specialization enables us to track and interpret market data quickly, thoroughly and accurately. Utilizing this information, we are able to provide our clients with guidance on property valuation and effective marketing strategies. Our goal is to maximize both property selling prices and buying opportunities, yielding an unmatched rate of customer satisfaction. This success is evidenced by the fact that nearly half of our business is with repeat clients, including many of Chicago's top real estate investors.