Essex Realty Group Facilitates Sale Of Multifamily Property In Ukrainian Village, Chicago

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 2331 W. Superior Street, a 14-unit multifamily property located in Chicago’s popular Ukrainian Village neighborhood. The property sold for a total of $2,250,000, which equates to $160,714 per unit. The multifamily building is comprised of a mix of one- and two-bedroom apartments, featuring vintage apartment units with individual heat and shared laundry in the basement. There is potential for an investor to renovate the apartment units with new kitchen and bathroom finishes, as well as the possibility of adding laundry in-unit and new individual HVAC.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $2,250,000
• Address: 2331 W Superior St, Ukrainian Village, Chicago
• Market: Ukrainian Village, Chicago

The seller, a local investor, hired Essex Realty Group's principal, Jordan Gottlieb, to exclusively market the property for sale. An extensive marketing campaign led by Essex Realty Group resulted in 20 property tours and multiple offers. Ultimately, the property sold to a local investor for the aforementioned price. Notably, Essex Realty Group recently closed on another West Town property, 1342-44 W. Ohio Street, a six-unit multifamily apartment building.