Updated Aug 24, 2026
Essex Realty Group Facilitates $4 Million Sale Of Chicago Multifamily Development Site
1837 North Spaulding Avenue & 1859 North Spaulding Avenue
$4,000,000
$48/SF
Building Size
41,656 SF
Asset Type
Development Site
Closing
Aug 20, 2026
About this deal
AI
1837–1859 North Spaulding Avenue is a multifamily development site located in Chicago's Logan Square, comprising 41,656 square feet. The asset was sold for $4 million, with a price per square foot of $96.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Address: 1837-1859 North Spaulding Avenue
- Market: Chicago, IL
- Square Footage: 41,656
- Price Per Square Foot: $96
- Brokers: James Darrow, Jordan Gottlieb, Brian Keegan & Matt Feo - Essex Realty Group
Essex Realty Group facilitated the transaction with Jim Darrow and Jordan Gottlieb acting as representatives for the seller, while Matt Feo represented the buyer in this sale.
On the Map
$4,000,000
$48/SF
Development Site
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Charlotte Hall Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93