Essex Realty Group Facilitates $5.2M Sale Of Edgewater Multifamily Portfolio

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of a 27-unit portfolio in two corner apartment buildings located just one block from each other in Chicago’s Edgewater neighborhood. The offering includes 13 units at 1214-1224 W. Rosemont Avenue and 14 units at 6257 N. Lakewood Avenue. The properties were sold to a local investor for a combined total price of $5,250,000. The sale was represented by Jim Darrow and Matt Feo of Essex Realty.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,250,000
• Date: 02/16/2022
• Address: 6257 N. Lakewood Ave. & 1214-1224 W. Rosemont Ave.
• Market: Edgewater, Chicago
• Units: 27
• Price Per Unit: $194,444

Essex Realty Group, Inc.'s director, Matt Feo, was hired to market the portfolio exclusively. An extensive marketing campaign resulted in 35 property tours and multiple offers. Ultimately, the properties were sold to the local investor. Essex Realty Group, Inc.'s principal, Jim Darrow, represented the buyer in the transaction.