Essex Realty Group Brokers $1.5M Sale Of 6-Unit Multifamily Property In Wicker Park

1320 N. Wicker Park Avenue, a six-unit multifamily property located in Chicago’s vibrant Wicker Park neighborhood, has been sold for $1,575,000. The apartment building, under the same ownership for over 30 years, was meticulously maintained during its tenure. The unit mix consists of one- and two-bedroom floorplans, featuring hardwood flooring throughout. The kitchens and bathrooms have been updated as apartments have turned over throughout the years. The property benefits from the neighborhood's low vacancy rates, rising rents, close proximity to public transportation, nightlife, and schools.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,575,000
• Units: 6
• Price Per Unit: $262,500
• Date: 07/22/2021
• Market: Wicker Park, Chicago
• Seller's Brokers: Steve Livaditis, Jacob Goldstein, Jordan Gottlieb - Essex Realty Group, Inc.
• Buyer's Broker: Jordan Gottlieb - Essex Realty Group, Inc.

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. facilitated the sale of 1320 N. Wicker Park Avenue. The property was exclusively marketed by Essex Principal Steve Livaditis and Director Jacob Goldstein, resulting in 16 property tours. After receiving multiple offers, the property was under contract within four weeks of marketing. Essex Principal Jordan Gottlieb represented the buyer, a local investor, in the transaction.