Edgeville Buzz

233-Unit Sheridan And Foster Apartment Building For Sale

The building at 5200 N. Sheridan has currently gone up for sale and there is quite a bit of talk about investors from either coast having an interest in investing in our neighborhood. Our friends over at Uptown Update were the first to break the news. The building is being listed by Kiser Institutional Group and they reported to Real Estate news source GlobeSt., that they expect to get several inquiries from institutional investors.  With 233 units in the apartment building, the total price of the building could go up to $28 million. The Uptown, Edgewater and Andersonville neighborhoods have received so much national attention over the last few years as being of the best neighborhoods to live in. All of that attention has lead to a peeked interest from investors outside of Chicago, looking for potential property investments.

Sheridan Edgewater The building dates back to the 1920’s and was originally a luxury hotel. The building is vintage but elegant and has been managed by Kopley Group. Currently the building contains a mix of sizes from studios to 1-2 bedrooms. They range in size from 300-square feet all the way up to 1,350-square feet. Current tenants have access to laundry, a work-out room and plenty of organized activities for those that live in the building. The first floor has close to 25,000 square feet of empty retail space which could be used for commercial tenants, a parking structure or anything else the new owners deem suitable for the building.

The building is comprised of all sorts including young professionals who work downtown, students completing their studies at Loyola and new folks moving to the city of Chicago. It meets the needs of many and is conveniently located close to the lake, public transportation and is in walking distance to several many retail filled streets.

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