Essex Realty Group Facilitates Sale Of 13-Unit Multifamily In West Chicago For $2.1M

A multifamily property located at 121-157 Wycliffe Drive in West Chicago, IL was recently sold for $2,125,000. The sale was facilitated by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. Derek Kaptanoglu and Brian Karmowski of Essex Realty Group, Inc. represented the seller and led an extensive marketing campaign that resulted in the property going under contract after just 11 days on the market. Karmowski also represented the buyer.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $2,125,000
• Address: 121-157 Wycliffe Drive, West Chicago, IL
• Market: West Chicago, IL
• Units: 13
• Price per Unit: $163,462

121-157 Wycliffe Drive is a townhome-style community located in the highly coveted DuPage County. It consists of 13 spacious two-and three-bedroom townhomes, each with a den and a full basement. The property offers a new owner various value-add opportunities, such as making minor aesthetic changes to the 1990s-style units and increasing operational efficiencies. The property sold within 90% of the list price to a local investor, and with the favorable size of the units and the demand for housing in this location, the new owner can potentially achieve future upside.

Note: Essex Realty Group, Inc. successfully sold this DuPage County townhome community.