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

Property Image
SOLD
$1,575,000
Jacob Goldstein
Steven (Steve) Livaditis
Jordan Gottlieb

Illinois

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MultiFamily5,901 SF
Sold 07/22/2020
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Property Image
SOLD

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

1320 North Wicker Park Avenue, Chicago, IL 60622

See Similar Deals
MultiFamily5,901 SF
Sold 07/22/2020
Jacob Goldstein
Steven (Steve) Livaditis
Jordan Gottlieb
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$266
Total Square Footage:5,901 SF
Transaction Type:Sale

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

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.

Players

Jordan Gottlieb
Essex Realty Group
Jordan Gottlieb
67 deals$364.3M volume
BROKER
Steven (Steve) Livaditis
Essex Realty Group
Steven Livaditis
40 deals$195.2M volume
BROKER
Jacob Goldstein
Greenstone Partners
Jacob Goldstein
20 deals$46.6M volume(847) 385-8181
BROKER

Details

SOLD
IMAGE: Steve Livaditis, Jacob Goldstein & Jordan Gottlieb DATE: 07/22/2021 ADDRESS: 1320 N. Wicker Park Avenue MARKET: Wicker Park, Chicago ASSET TYPE: Multifamily BROKERS: Steve Livaditis, Jacob Goldstein, Jordan Gottlieb - (@ChicagoMultifamily_Essexrealty) SALE PRICE: $1,575,000 UNITS: 6 ~ PPU: $262,500 NOTE: Wicker Park Apartment Building Trades Hands For First Time In Over 30 Years Chicago-based multifamily brokerage firm Essex Realty Group, Inc. brokered the $1.5 million sale of 1320 N. Wicker Park Avenue, a six-unit multifamily property located in Chicago’s vibrant Wicker Park neighborhood. Essex Principal Steve Livaditis and Director Jacob Goldstein were retained to exclusively market this property for sale on behalf of a local investor. The Essex team completed an extensive marketing campaign 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, who purchased the property for approximately $1,575,000. “It was a pleasure representing the seller of this property and I congratulate everyone involved in this recent sale,” said Goldstein. He continued, “Investors were drawn to this investment opportunity due to the great location and potential upside stemming from multiple value-add opportunities.” This Wicker Park apartment property has been under the same ownership for over 30 years and has been meticulously maintained during its tenure. The unit mix is comprised of one- and two-bedroom floorplans. The apartments feature hardwood flooring throughout accompanied by various levels of updates to the kitchens and bathrooms 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.

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