Local Investor Acquires 14-Unit Multifamily Property In Ukrainian Village For $2.27M

An immaculately maintained 14-unit multifamily property located at 2335-2337 W. Superior Street in Ukrainian Village, Chicago has been sold for the first time in 30 years. The property, situated on a double lot with a landscaped backyard, attracted significant investor interest due to the low density of the neighborhood. Essex Realty Group, Inc., represented by broker Abe Eilian, facilitated the transaction which closed at a sale price of $2,270,000. This equates to approximately $162,143 per unit.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $2,270,000
• Units: 14
• Price Per Unit: $162,143

The sellers, who have owned the property for over three decades, made several recent capital improvements to the building. The buyer, a local investor, recognized the unique opportunity for immediate scale in the highly sought-after Ukrainian Village neighborhood. The property's prime location, just steps away from the vibrant dining and entertainment options along Chicago Avenue, further added to its appeal. The Western Avenue Metra Station is conveniently positioned just half a mile away.

This successful transaction demonstrates the ongoing interest of multi-family investors in Ukrainian Village and the value they place on properties in the area. With 29 property tours and 9 offers generated, it is evident that Ukrainian Village continues to be a desirable neighborhood for investment.