Becovic Residential Acquires Historic Andersonville Property
Becovic Residential has acquired the historic mixed-use property at 5154 N. Clark Street for $20 million and is introducing it under its new name, The Quarters at Andersonville.
Built in 1923 and occupying a full city block at the intersection of Clark Street, Foster Avenue and Ashland Avenue, The Quarters at Andersonville includes 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous owner for more than 40 years. The acquisition marks Becovic Residential’s entry into Andersonville and extends the company’s presence across Chicago’s North Side.
Becovic Management Group, Inc. will provide property management services for the property. Essex Realty Group served as broker for the transaction. Financing was provided by Associated Bank, with Elizabeth Hozian handling the financing relationship.
“The Quarters at Andersonville is a special addition to Becovic,” said Sal Becovic, President of Becovic Residential. “We see our role as caring for this property and being a good neighbor to the community around it. Andersonville is a natural extension of our presence across the North Side.”
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout