Sperry Van Ness, LLC has sold 26 of 49 bulk condominium units located at 1228 Emerson Street in Evanston, Ill.
Jim Sears of Sperry Van Ness, LLC represented Bluewater Group, the seller in the transaction. Reid Bennett, also of Sperry Van Ness, LLC represented the purchaser. The 26 units, a total of 37,310 square feet, sold for $7.25 million.
“Although not a distressed sale, the bulk sale of the remaining 26 units at nearly $279,000 per unit still afforded the purchaser with the option to continue renting and to generate cash flow or sell the units individually now or in the future; truly a best of both worlds scenario,” Sears said in a written statement.