Essex Realty Group Sells 6-Unit Multifamily Property In Pilsen, Chicago For $1.08M

Essex Realty Group, Inc. is pleased to announce the sale of 1417 W. Cullerton Street, a six-unit multifamily property located in Chicago’s Pilsen neighborhood. The property closed for $1,080,000 or $180,000 per unit.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,080,000
• Address: 1417 W. Cullerton St., Pilsen, Chicago
• Market: Pilsen, Chicago

According to Co-Star Comps, this is the highest price per unit for a multi-family property featuring five units or more sold in the last year. The property features four units in the front building and two units in the rear coach house. Each apartment includes hardwood floors, stainless steel appliances, granite countertops in the kitchen, and individual HVAC and hot water tanks. Minor cosmetic updates could potentially increase rents over time.

The property is located on the south side of Cullerton Street, just west of Loomis Street, and is conveniently situated less than one mile from both the 18th Street and Damen Pink Line CTA Stations. It is also in close proximity to Pilsen's popular 18th Street, which offers a variety of trendy restaurants, bars, and entertainment options.

The seller, a local investor, was represented by Essex Principals Jim Darrow and Jordan Gottlieb, along with Director Jordan Multack. The buyer was represented by Essex Director Matt Feo.