Essex Realty Group Sells 25-Unit Multifamily Building In Chicago For $5.4M

Essex Realty Group, Inc. has announced the sale of 4827-4833 N. Wolcott Avenue, a 25-unit courtyard building in Chicago’s Ravenswood neighborhood. The property closed for a sale price of $5,435,500. The spacious one- and two-bedroom apartments feature separate living and dining rooms, hardwood floors, and a mix of white or stainless-steel appliances. On-site laundry facilities are available in the basement. The property is conveniently located near public transportation options and a grocery store, offering tenants easy access to amenities.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $5,435,500
• Units: 25
• Price per Unit: $217,420

Jim Darrow, Jordan Gottlieb, and Steve Livaditis from Essex Realty Group, Inc. played key roles in this transaction. Darrow and Gottlieb represented the out-of-state seller and conducted a successful marketing campaign that resulted in multiple property tours and offers. Livaditis represented the buyer, a local investor, in the purchase of the property. The buyer was attracted to the value-add opportunity and the scarcity of quality courtyard buildings in the desirable Ravenswood neighborhood.