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

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.