Essex Realty Group, Inc. announced the sale of 932-40 W. Dakin St. in Chicago, Illinois.
932-40 W. Dakin St. is a 26,815 square foot heavy timber warehouse building that was originally constructed in 1914 by the E.R. Moore Company, a nationally known manufacturer of caps and gowns used for graduation and choir ceremonies. A preliminary investigation from a historic tax credit advisor indicated that the building may be a candidate for the National Register of Historic Places which may qualify a new buyer to receive Federal rehab credits for renovation work. The building spans 3 floors and has high ceilings and hardwood floors on the 2nd & 3rd floors. There is currently room for 8 off street parking spots with the possibility of adding more off the alley at the rear of the building.
The building is situated on the north side of Dakin Street just east of Sheridan Road and is 3 blocks north of the world famous Wrigley Field. The property offers many public transportation options right around the corner, in fact the Sheridan Red Line “L” stop is just steps away. This is a rare opportunity to do a ground up new residential development or convert the existing structure into luxury loft style apartments or condominiums in one of Chicago’s most desirable neighborhoods with excellent access to public transportation. The sale price was approximately $2,700,000.
Essex Realty Group’s Jim Darrow and Jordan Gottlieb represented the seller and Doug Fisher represented the buyer.