Avondale Multifamily Property Sells For $4.5M With Buyer's Rep Jim Darrow

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 3508-3516 N. Sacramento Avenue, a 15-unit multifamily building located in Chicago’s Avondale neighborhood. The property, developed and built in 2014, consists of three adjacent buildings and was sold for $4,525,000 to a local investor. The sale price equates to approximately $301,667 per unit.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $4,525,000
• Address: 3508-3516 N Sacramento Ave
• Market: Avondale
• Brokers: Jim Darrow, Jordan Gottlieb & Matt Feo - Essex Realty
• Date: 05/03/2022

The sale of this Avondale multifamily property was facilitated by a team from Essex Realty Group, Inc., including Jordan Gottlieb and Matt Feo. In just four weeks, the team conducted an extensive marketing campaign and received eight offers. Ultimately, the property sold for 99% of the list price. Jim Darrow, representing Essex Realty, acted as the buyer's representative in the transaction. The property's attractive location and unit mix, coupled with the increasing demand for finished and stable properties, contributed to its widespread interest among investors.