CHICAGO — Becovic Residential has acquired The Vivian, a nine-story apartment building located at 6807 N. Sheridan Road in Chicago’s Rogers Park neighborhood, for $25.6 million. The Vivian features 160 units, comprised of 104 studios and 56 one-bedroom apartments along with 9,915 square feet of ground-floor commercial space. Originally constructed in 1921 as the historic Rogers Park Hotel, the building has been thoughtfully restored to preserve its Art Deco architecture.
Amenities include a rooftop lounge and clubroom with views of Lake Michigan and the Chicago skyline, a fitness center housed within the building’s original ballroom, a renovated lobby and resident gathering areas, bike storage and a dog wash. Over the past several years, the property has received more than $10 million in capital improvements, including elevator modernization, plumbing and electrical upgrades, replacement of water risers, common area renovations and the creation of new amenity spaces.
Pete Evans of Berkadia brokered the sale. Elizabeth Hozian of Associated Bank structured financing for the acquisition. Becovic Management Group Inc. will manage the property.