Essex Realty Group Sells 24-Unit Multifamily Property In Bensenville, Illinois For $2.55M | 1001 Argyle Street | Brian Mond, Anthony Citriglia, Brian Karmowski | MultiFamily | Sale

Summary

Sale

ILLINOIS

MultiFamily

18,900 sqft

Essex Realty Group, Inc. has announced the sale of 1001 Argyle Street, a 24-unit multifamily property located in Bensenville, IL. The property was sold for $2,550,000.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $2,550,000
Units: 24
Price Per Unit (PPU): $106,250
Market: Bensenville, IL

The property, situated on a 1.5-acre lot, features 24 units with newer mechanicals and updates to all common areas and several units. It offers 42 surface parking spaces and ample green space for outdoor activities. The Bensenville Metra Station, located approximately 2.5 miles away, provides convenient access to neighboring suburbs and downtown Chicago.

The buyer in this transaction was represented by Anthony Citriglia of Essex Realty Group, Inc. On the other hand, Brian Karmowski and Brian Mond, both directors at Essex Realty Group, Inc., represented the seller.

According to Brian Karmowski, this sale is indicative of the success of the Essex marketing platform, with several tours, multiple offers, and a closing within just 45 days. The property's well-maintained condition and its location in DuPage County, where there is increasing demand for multifamily properties, contributed to its success in the market.

Players

All
4

Agents
3
Agencies
1

$45.1M Sold

$31.1M Sold

$181.7M Sold

Details

Deal Summary

SOLD

IMAGE: Anthony Citriglia, Brian Karmowski & Brian Mond DATE: 03/31/2021 ADDRESS: 1001 Argyle Street MARKET: Bensenville, IL ASSET TYPE: Multifamily BROKERS: Brian Karmowski, Anthony Citriglia & Brian Mond @Mr.MultifamilyNews @ChicagoMultifamily_EssexRealty SALE PRICE: $2,550,000 UNITS: 24 ~ PPU: $106,250 NOTE: Essex Realty Group, Inc. is pleased to announce the sale of 1001 Argyle Street, a 24-unit multifamily property located in Bensenville, IL. Essex was engaged to market 1001 Argyle Street in mid-January 2021. After conducting an extensive marketing campaign resulting in more than 16 property tours and multiple offers, the property was placed under contract after approximately three weeks on the market. The property closed approximately six weeks later for $2,550,000. Essex Director Anthony Citriglia represented the buyer, a local investor, in this transaction. Essex Directors Brian Karmowski and Brian Mond represented the seller, a local investor, in the transaction. “Argyle is a perfect example of the Essex marketing platform – several tours in a two-week span, multiple offers, and closing in just 45 days. This was a team effort, and I congratulate all parties involved,” said Karmowski. The Property has been very well-maintained by current ownership with newer mechanicals and updates to all common areas and several units. Situated on a 1.5 acre lot, the property affords tenants with plenty of parking (42 surface spaces) and ample green space for outdoor activities. The Bensenville Metra Station is located approximately 2.5 miles from the property, allowing for easy access to neighboring suburbs and downtown Chicago. "We continue to see an increase in demand for multifamily properties located in DuPage County. Our client was a long-term owner and recognized this as well and took advantage of the current market," explained Mond.

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Address1001 Argyle Street

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