Essex Realty Facilitates Sale Of Niles Multifamily Building For $1.15M

An off-market transaction facilitated by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. resulted in the sale of a multifamily building located at 7560 Waukegan Road in Niles, a suburb of Chicago. The property, situated on the southwest corner of Waukegan Avenue and Howard Street, consists of nine units with a mix of one-bedroom and two-bedroom floorplans.

Summary of Transaction Details

• Property Type: Multifamily
• Sale Price: $1,150,000
• Units: 9
• Price per Unit: $127,778
• Address: 7560 Waukegan Road, Niles
• Market: Niles, Near North Chicago Suburb

Anthony Citriglia from Essex Realty served as the broker for this transaction. It marks the 6th Niles area deal that Citriglia has successfully brokered in the past 14 months. Niles attracts investors due to its favorable location near the northwest side of Chicago, offering a suburban lifestyle with easy access to the city and its vibrant northwest neighborhoods. The area also experiences high rental demand and consistent rental rate growth, making it an attractive choice for real estate investors. Many properties in Niles are managed by long-term owners who rent to tenants below market rates, presenting an opportunity for investors to renovate and increase rental income.