Essex Realty Facilitates Sale Of Irving Park Multifamily For $1.5M

An eight-unit multifamily property located at 4257 N. Sacramento Avenue in Chicago's Irving Park neighborhood has been sold for $1,525,000. The property was exclusively marketed for sale by Essex Principals Jim Darrow and Jordan Gottlieb, along with associate Sarah Rider from Essex Realty Group, Inc. After conducting an extensive marketing campaign, the property received multiple offers and was ultimately purchased by a local investor. Each unit in the charming brick apartment building is a two-bedroom, with three units recently renovated with stainless steel appliances, quartz or granite counters, and updated bathrooms. The remaining five units were updated within the last 10 years, featuring granite counters, cherry cabinetry, and white appliances. All units have hardwood floors, individual HVAC, and spacious rear decks. The sale of this multifamily property presents an opportunity for the new owner to continue renovating the remaining units and capture additional rental upside.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,525,000
• Units: 8
• Price per Unit: $190,625
• Date: 12/27/2021
• Address: 4257 N. Sacramento Ave
• Market: Irving Park, Chicago

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. facilitated the sale of 4257 N. Sacramento Avenue. The team involved in the transaction included Jim Darrow and Jordan Gottlieb, who are Principals at Essex Realty, and Sarah Rider, an associate at the firm. Together, they led a successful marketing campaign that resulted in the property attracting multiple offers. Essex Principal Kate Varde represented the buyer in the transaction.