Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1938-40 Jackson Avenue, a five-unit multifamily property located in the suburb of Evanston, IL. The property, situated in the Evanston market, was sold on 03/08/2022 for a price of $775,000, with a per unit price of $155,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $775,000
• Address: 1938-40 Jackson Ave
• Market: Evanston

The buyer in this off-market transaction was a 1031-Trade Buyer. The transaction was facilitated by brokers Steve Livaditis and Jacob Goldstein from Essex Realty. The buyer, a local investor, was looking for an investment opportunity and completed a 1031 exchange with the purchase of this property. 1938-40 Jackson Avenue consists of a four-unit apartment building with two-bedroom layouts and a rear coach house unit with three bedrooms. The units have been well maintained and modestly updated over time. The property is conveniently located approximately 0.7 miles west of the Foster purple line CTA Station.

This sale adds to a series of successful transactions for Essex brokers in the Evanston area, as they recently closed another multifamily property at 1019 Dempster Street in late February.