Essex Realty Facilitates Sale Of Two Adjacent Hermosa Multifamily Properties For $1.4M

The multifamily properties located at 2014-2018 N. Keystone Avenue in the Hermosa neighborhood of Chicago have been sold. The properties consist of two adjacent brick buildings forming a small, gated courtyard. Additionally, there is a two-car garage in the rear and one additional surface parking space. The properties offer a total of 11 units, with a majority of them being 2 bed/1 bath apartments. The sale of these properties was facilitated by Jordan Multack of Essex Realty Group, Inc., who represented both the seller and the buyer in the transaction.

Summary of Transaction Details

• Property Type: Multifamily
• Sale Price: $1,400,000
• Number of Units: 11
• Price per Unit: $127,273
• Date: 12/08/2021
• Address: 2014-2018 N. Keystone Avenue
• Market: Hermosa, Chicago

Essex Realty Group, Inc., a Chicago-based multifamily brokerage firm, was hired by the seller, a local investor, to exclusively market the property for sale. Through an extensive marketing campaign, the properties received more than six offers. Ultimately, a local investor purchased the properties for $1,400,000. The location of the properties, just steps away from the main retail hub of Hermosa, presents an opportunity for the new owner to command top rents in the neighborhood.

Note: Essex Realty director Jordan Multack represented both parties in the transaction.