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Becovic Acquires 36-Unit Multifamily Building In Rogers Park For $3.85M

Property Image
SOLD
$3,850,000

Illinois

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MultiFamily10,254 SF
Sold 08/26/2021
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Property Image
SOLD

Becovic Acquires 36-Unit Multifamily Building In Rogers Park For $3.85M

1649 West Jonquil Terrace, Rogers Park, Chicago, IL, USA

See Similar Deals
MultiFamily10,254 SF
Sold 08/26/2021
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$375
Total Square Footage:10,254 SF
Transaction Type:Sale

A 36-unit multifamily property located at 1649 W. Jonquil Terrace in Rogers Park, Chicago, was recently sold for $3,850,000. The courtyard building consists of a mix of studio and two-bedroom apartment units, along with 2,000 SF of ground level commercial space. The property is situated in a great location, less than half a mile west of Rogers Park Beach and Lake Michigan on the southeast corner of Jonquil Terrace and Paulina Street. The Howard Red, Purple, and Yellow CTA station is conveniently located just one block south of the property.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,850,000
  • Units: 36
  • Price Per Unit: $106,944
  • Market: Rogers Park, Chicago

The seller, a local investor, was represented by Matt Feo of Essex Realty Group, Inc. in this off-market transaction. The buyer, Becovic, is a local investor as well. Becovic expressed excitement about adding The Jonquil Terrace to their other north of Howard communities. The sale was facilitated by Essex Director, Matt Feo, who represented both the seller and the buyer in the deal. The transaction closed on August 26, 2021.

Players

Matt Feo
Essex Realty Group
Matt Feo
49 deals$245.4M volume
BROKER
B
Becovic
BUYER

Details

SOLD
IMAGE: Matt Feo DATE: 08/26/2021 ADDRESS: 1649 W. Jonquil Terrace MARKET: Rogers Park, Chicago ASSET TYPE: Multifamily BUYER: Becovic BROKER: Matt Feo (@Matt_Feo_Multifamily) - Essex Realty (@ChicagoMultifamily_EssexRealty) SALE PRICE: $3,850,000 UNITS: 36 ~ PPU: $106,944 NOTE: Essex Brokers Facilitate Sale of $3.85M Rogers Park Sale Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1649 W. Jonquil Terrace in Chicago’s Rogers Park neighborhood. This 36-unit courtyard building is comprised of a mix of studio and two-bedroom apartment units, along with 2,000 SF of ground level commercial space which has been occupied by “Just Harvest”, a nonprofit organization and neighborhood ally. Essex Director Matt Feo represented the seller, a local investor, in this off-market transaction. The property sold to a local investor, Becovic, for $3,850,000, which equates to $106,944 per unit. Feo also represented the buyer in this transaction. “We love the north of Howard area of Rogers Park,” said Sal Becovic. President at Becovic. “We are excited to add The Jonquil Terrace to our other north of Howard communities.” The property is situated in a great location less than one-half mile west of Rogers Park Beach and Lake Michigan on the southeast corner of Jonquil Terrace and Paulina Street. The Howard Red, Purple, and Yellow CTA station is conveniently located just one block south of the property.

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