Chicago-based multifamily brokerage firm Essex Realty Group, LLC, brokered the sale of Fairchild Shores, a 28-unit multifamily property at 6211 N. Kenmore Ave. in Chicago’s Edgewater neighborhood.
Essex Principal Steve Livaditis and Managing Directors Matt Feo and Rick Ofman negotiated the transaction, representing both the seller and buyer.
Fairchild Shores offered immediate value-add potential for the new ownership, as the in-place rents were approximately 15% below comparable assets in this pocket of Edgewater. The building featured renovated studio and 1-bedroom apartments that included parking.
One block from Loyola University’s Lake Shore Campus and Rosemont Avenue Beach, the property is ideally positioned to capture steady demand for student-oriented and lakefront living. Edgewater’s combination of historic character, popular beaches, and expanding retail and dining continues to make it a sought-after North Side submarket for residents and investors alike.
