Essex Realty Group Facilitates $3.8M Sale Of Multifamily Property In Belmont Cragin

6112 W. Diversey Avenue, located in Chicago’s Belmont Cragin neighborhood, has been sold in a recent transaction facilitated by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. The 24-unit multifamily building was marketed for sale by Essex director Derek Kaptanoglu, who led an extensive four-week marketing campaign resulting in multiple offers. The property was ultimately sold to a local investor for $3,875,000, representing 95% of the list price. With a price per unit of $161,458, this sale sets a new record for the highest price per unit for a multifamily property of four or more units in the Cragin and Belmont Central neighborhoods in the last 12 months. The buyer in this transaction was represented by Essex managing director Brian Karmowski.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,875,000
• Address: 6112 W. Diversey Avenue, Belmont Cragin, Chicago
• Market: Belmont Cragin, Chicago

6112 W. Diversey Avenue is a 24-unit apartment building featuring two-bedroom units. Built in 2008, each apartment offers spacious floorplans with high-quality finishes, individual HVAC systems, and in-unit laundry. The property also includes 25 on-site parking spaces.