A six-unit multifamily property located at 1265 N. Wolcott Avenue in Chicago’s vibrant Wicker Park neighborhood has been sold for $1,700,000. The property, which is an apartment building, has been under the same ownership for over 30 years and is known for its meticulous maintenance. It offers a mix of one- and two-bedroom floorplans, with hardwood flooring throughout the units. Some apartments have undergone renovations, including stainless steel appliances, granite countertops, and in-unit laundry, while others have been remodeled with white appliances and laminate countertops.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,700,000
• Units: 6
• Price Per Unit: $283,333
• Date: November 16, 2021
• Address: 1265 N. Wolcott Ave, Wicker Park, Chicago
• Market: Wicker Park, Chicago

The sale of 1265 N. Wolcott Avenue was brokered by Steve Livaditis and Jacob Goldstein of Essex Realty Group, Inc. The Essex team conducted an extensive marketing campaign, resulting in over 8 property tours and multiple offers. The property was eventually sold to a local investor. Goldstein, one of the brokers involved in the transaction, expressed his satisfaction in representing the seller, who is described as a repeat client. He also highlighted the desirable location of the property, noting that it is situated in a low-density pocket of Wicker Park, which is considered one of the tightest rental markets in Chicago.