Essex Realty Group Inc Facilitates $6.8M Sale Of Oak Park Multifamily Building

The stately 55-unit courtyard building located at 1116 Washington Boulevard in Oak Park has been sold for $6,825,000. The property was recently facilitated for sale by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. The unit mix consists of studio, one- and two-bedroom floorplans with hardwood flooring, stainless steel appliances, granite countertops, espresso kitchen cabinets, and new bathroom vanities. The building features on-site laundry facilities and is conveniently located near public transportation, including the Harlem/Lake Green line CTA Station and Oak Park UP-W Metra Station.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,825,000
• Address: 1116 Washington Blvd
• Market: Oak Park
• Units: 55
• Price Per Unit: $124,091

The multifamily team at Essex Realty Group, Inc., comprising of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd, and Rick Ofman, represented both the seller and the buyer in this transaction. The sale of 1116 Washington Boulevard presented a rare opportunity to purchase a beautifully renovated courtyard building in the popular suburb of Oak Park.