Rany Management Acquires Multifamily Property In Chicago For $13M

The multifamily property located at 2600 West Montrose Avenue and 4600 N Lincoln Ave in Chicago has been sold for $13,000,000. The transaction took place on 12/19/2022, and the property consists of 53 units. The price per unit is $245,283, with a total square footage of 35,462 and a price per square foot of $367.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $13,000,000
• Date: 12/19/2022
• Address: 2600 West Montrose Avenue & 4600 N Lincoln Ave, Chicago
• Units: 53
• Price per Unit: $245,283
• Square Footage: 35,462
• Price per Square Foot: $367

The buyer of the property is Nick Yassan, representing Rany Management. The seller's representatives on the deal were Douglas (Doug) Imber, Rick Ofman, Kate Varde, and Dan Shepherd from Essex Realty. Rick Ofman from Essex Realty also represented the buyer in the transaction.