Jacob Fenton, with Essex, represented Pacini in the sales transaction. David Goss and Jon Morgan, both with Essex, represented the seller in the transaction. The mid-rise elevator building has 38 one-bedroom units and 28 two-bedroom units. The property also has 49 parking spaces.
Pacini was interested in acquiring the property because it is in a "core Chicago neighborhood" and is a "very strong infill location," Imber says. The occupancy rate is above 95%, he says. The average unit size is 800 sf and the average rental rate, including parking, is $920.
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