Chicago Multifamily Property In Ukrainian Village Sells For $1.95M With Abe Eilian Representing Seller

Essex Realty Group, Inc. has facilitated the sale of a 5-unit multifamily property located at 1010 N. Wood Street in Chicago's Ukrainian Village neighborhood. The property, which had not changed hands in over 20 years, was listed for sale in February 2021. Following an extensive marketing campaign, the property received multiple offers and was placed under contract within four weeks. The transaction was successfully closed at a price of approximately $1,950,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,950,000
• Units: 5
• Price Per Unit: $390,000
• Market: Chicago, IL

The seller, a local investor, was represented by Abe Eilian from Essex Realty Group, Inc. Eilian described the property at 1010 N. Wood Street as a well-maintained 5-unit building located in one of Ukrainian Village's most desirable areas. Notably, three of the units are extra-large duplexes. On the buyer's side, Jordan Gottlieb, a principal at Essex Realty Group, Inc., represented a local investor.

The property comprises a front three-flat building and a two-unit coach house at the rear. The front building consists of two 2-bedroom, 1-bathroom units, and a 4-bedroom, 3-bathroom duplex-up penthouse unit. The coach house features one 2-bedroom, 2-bathroom duplex-down unit and one 2-bedroom, 2-bathroom duplex-up unit with access to a private rooftop deck. Each unit is equipped with condo-quality finishes, including granite countertops, in-unit laundry, keyless entry, built-in microwave, and dishwasher. Some units feature exposed brick and views of Chicago's downtown skyline. Recent capital improvements include a new roof on the front building, new skylights in unit 2R, and new heat-sealed rubber coat and trex decking on the rear porch. Additionally, there is a heated two-car garage at the rear of the property.

Located in East Ukrainian Village, the property enjoys a prime location just a few blocks south of the popular Division Street commercial corridor and half a mile away from the Division Street Blue Line CTA Station.