Essex Realty Group Sells Wheaton Multifamily Building For $585K

A six-unit multifamily building located at 1314 E. Roosevelt Road in Wheaton, DuPage County, was recently sold for $585,000. The property was listed by Essex Realty Group, Inc., and the transaction was facilitated by Essex Director Anthony Citriglia. The sale price of $585,000 translates to approximately $97,500 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $585,000
• Address: 1314 E. Roosevelt Road, Wheaton, DuPage County
• Market: Wheaton, DuPage County

The sale of the multifamily building generated significant interest, attracting multiple offers and five property tours within a four-week period. Ultimately, a local investor purchased the property for $585,000. According to Anthony Citriglia, the demand for multifamily properties in Wheaton and neighboring cities has been steadily increasing. The seller, recognizing this demand, took advantage of the current market conditions and decided to sell.

It is worth noting that Essex Realty Group, Inc. has been involved in several other transactions in the Wheaton area over the past nine months. This signifies the active investment real estate market in Wheaton. In a neighboring transaction, Essex Director Derek Kaptanoglu facilitated the sale of an eight-unit multifamily building at 1324 E. Roosevelt Road for $845,000, or $105,625 per unit. Additionally, in October 2020, Essex brokers assisted in the sale of a 12-unit multifamily property located at 1715 E. Roosevelt Road, which was purchased by a local investor for $1,590,000.