Essex Realty Group Facilitates Sale Of Bucktown Multifamily Property For $1.6M

A six-unit multifamily building located at 1919 W. Armitage Avenue in the vibrant Bucktown neighborhood of Chicago has been sold. The property, marketed for sale by the multifamily team of Matt Feo, Abe Eilian, and Brian Keegan from Essex Realty Group, Inc., was recently purchased by a local investor for $1,600,000. The sale price exceeded the list price by $51,000, showcasing the strong demand for stabilized assets in quality locations.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $1,600,000
• Address: 1919 W. Armitage Ave, Bucktown, Chicago
• Market: Bucktown, Chicago

The Essex Realty Group, Inc. facilitated the transaction, with Matt Feo representing the buyer. The property was on the market for just one week and closed within two weeks, highlighting the speed at which this deal was finalized. The extensive marketing campaign led by the Essex team resulted in multiple offers, ultimately selling the property for a price above the initial listing. This transaction reflects the current trend of investor focus shifting towards stabilized assets in desirable locations, as renovation costs continue to rise in the market.