Essex Realty Facilitates Sale Of Rogers Park Multifamily Building For $825K

7733-7735 N. Hermitage Avenue, located in Chicago's East Rogers Park neighborhood, has been sold in a recent transaction facilitated by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. The center entrance six-unit multifamily property was sold for a total of $825,000, with each unit priced at $137,500. The property comprises six spacious apartments, featuring a combination of two- and three-bedroom layouts. The vintage charm of the building has been well-preserved over its 35-year ownership, with updates made to the kitchens and bathrooms as needed. Multiple value-add strategies are available for the new owner.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $825,000
• Units: 6
• Price per Unit: $137,500
• Market: Rogers Park, Chicago

Essex Realty Group's principal, Steve Livaditis, and director, Jacob Goldstein, represented both the seller, a local investor, and the buyer in the transaction. Essex Realty utilized an extensive marketing campaign, resulting in multiple offers for the property. Ultimately, a local investor acquired the multifamily building, marking the first time it has changed hands in 35 years.

Note from Broker: Essex Realty Group, Inc. successfully facilitated the sale of the 7733-7735 N. Hermitage Avenue property. The transaction highlights the firm's expertise in the Rogers Park multifamily market and their ability to attract strong buyer interest through targeted marketing strategies.