Chicago-based multifamily brokerage firm Essex Realty Group, LLC brokered the sale of the 24-unit adaptive reuse apartment building at 4520 N. Beacon St. in the Sheridan Park section of Chicago’s historic Uptown neighborhood.
The building was sold by a prominent Northside owner, who was represented by Essex’s Principals Kate Varde and Doug Imber, along with Essex’s Managing Director Rick Ofman, who also represented the buyer in the transaction.
The Property was completely renovated in 2015 from its prior use as the Hull House and is often referred to in the neighborhood as the “Gorilla Building,” due to the notable John Kearney gorilla sculpture that has been displayed in front of the property since 1977.
The units consist of 6 two-bedroom/one-bathroom; 12 three-bedroom/two-bathroom; 3 three-bedroom/three-bathroom units; and 3 four-bedroom/three-bathroom apartments. Each unit features new hardwood floors and granite countertops, as well as updated appliances, in-unit laundry, and individual HVAC and water heaters.
Throughout the marketing phase, 4520 N. Beacon St. hosted more than a dozen tours, attracting significant interest from prospective buyers. Ultimately, the property garnered multiple offers and sold for $9.5MM.
