Chicago-Based Investor Acquires Multifamily Property In West Rogers Park For $1.675M

The 12-unit multifamily property located at 2317-2325 W. Chase Avenue in Chicago's West Rogers Park neighborhood has been sold for a total of $1,675,000. The buyer, a local investor participating in a 1031 exchange, acquired the property for an average price of $139,583 per unit. The sale was facilitated by the commercial real estate brokerage firm Essex Realty Group, Inc. The brokers involved in this transaction were Doug Imber, Kate Varde, Jaimie Steinher, and Dan Shepherd from Essex.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,675,000
• Units: 12
• Price per Unit: $139,583
• Market: West Rogers Park, Chicago

The property consists of a mix of one-, two-, and four-bedroom apartment units. These spacious units feature radiator heating, hardwood floors, white kitchen appliances, wood cabinetry, and laminate countertops. Each unit has separate living and dining rooms. On-site coin-operated laundry facilities are available for residents. The location of the property is conveniently situated within 0.70 miles from the Rogers Park UP-N Metra Station.

Essex Realty Group conducted an extensive marketing campaign for the property, resulting in over 10 property tours and multiple offers. This successful transaction is the second apartment building in the Rogers Park area closed by Essex in the past month, with 7416 N. Rogers Avenue being sold in February.