Chicago-based Client Acquires Multifamily Property In Logan Square For $5.3M

A multifamily property located at 3048-58 W. Cortland St. in Logan Square, Chicago has been sold for $5,272,000. The property consists of 29 units, with an average price per unit of $181,793.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,272,000
• Address: 3048-58 W. Cortland St., Logan Square, Chicago
• Market: Logan Square, Chicago

Jordan Multack and Jordan Gottlieb of Essex Realty Group, Inc. represented the buyer in this transaction. They were hired to exclusively market the property for sale, leading an extensive marketing campaign that resulted in 28 property tours and more than 10 offers. The property went under contract in less than 20 days on the market.

The building primarily features large one- and two-bedroom layouts, with a mix of vintage and lightly updated kitchens and bathrooms. Each apartment is equipped with separate individual gas furnaces and hot water heaters, as well as common laundry facilities in the basement. Tenants will also benefit from the building's convenient location, which is less than a mile away from both the Western and California Blue Line CTA Stations, as well as several bus stops.