6031-43 North Paulina Chicago

March 4, 2019 Comments Off on Family-Owned Edgewater Apartments Sell in 1031 Deal Views: 377 Chicago News, North Side

Family-Owned Edgewater Apartments Sell in 1031 Deal

Essex Realty Group has arranged the sale of 6031-6043 N. Paulina St. in the North Side’s Edgewater neighborhood. The 43-unit courtyard apartment property, which has been owned and operated by the same family since 1965, traded for $5.7 million in a 1031 exchange.

Doug Imber, Kate Varde and Clay Maxfield of Essex were the brokers on the transaction.

According to Brad Desent, who along with his siblings sold the building, “Our parents actually met at this building and then had the opportunity and foresight to purchase it. It has been a part of our family for more than half a century.

“We grew up shoveling coal to fuel the furnace, and all worked at different times to maintain the building,” Desent continued. “It has been a great family business spanning several generations.”

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