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833 Hamlin Street
SOLD

CRER's Steven Rapoport Closes 9-Unit Multifamily Sale In Evanston For $1.3M

833 Hamlin Street

MultiFamily
6,000 SF
clock iconSold 1 year ago
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Summary

Sale
ILLINOIS
MultiFamily
6,000 sqft

A recently closed transaction in Evanston, IL involved the sale of a multifamily property located at 833 Hamlin St. The property, consisting of 9 units, was sold for a sale price of $1,300,000, surpassing the initial asking price of $1,200,000. This resulted in a per unit price of $144,444. The total square footage of the property measures 6,000, with a price per square foot of $217.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Address: 833 Hamlin St, Evanston, IL
  • Market: Evanston

The successful sale was facilitated by Steven Rapoport from Chicago Real Estate Resources (CRER). Showing the property to a total of 23 prospective buyers on a single day, Steven was able to generate multiple offers and close the deal in record time. The strategic pricing and marketing campaign contributed to the property being sold for $100,000 over the asking price.

Buyers of the property have the opportunity to enhance its value through unit renovations and increasing rental rates, allowing them to build sweat equity. In addition, the property's desirable location provides tenants with convenient access to public transportation, with the Foster Purple Line stop just a 3-minute walk away. Northwestern University, downtown Evanston, and Lighthouse & Clark Street beaches are all within walking distance.

For those interested in buying or selling multifamily properties in Chicago or the surrounding suburbs, Steven Rapoport can provide assistance. Additionally, he offers a free valuation report, including financial analysis and comparable sales, for property owners who want to understand the potential selling price of their properties.

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Steven Rapoport's profile picture
Steven Rapoport
CRER (Chicago Real Estate Resources)-image
Senior Director
$11.5M Sold

Details

Deal Summary
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SOLD
IMAGE: Steven Rapoport DATE: 05/27/2022 ADDRESS: 833 Hamlin St MARKET: Evanston ASSET TYPE: Multifamily BROKER: Steven Rapoport - Chicago Real Estate Resources (CRER) ASKING PRICE: $1,200,000 SALE PRICE: $1,300,000 UNITS: 9 ~ PPU: $144,444 SF: 6,000 ~ PPSF: $217 NOTE FROM BROKER: Steven Rapoport with CRER recently closed a 9 unit apartment building at 833 Hamlin St, Evanston, IL 60201 downtown Evanston in record time, with multiple offers, and over the asking price. With high demand and low supply for multifamily investment properties, along with strategic pricing and marketing campaign, Steven was able to dispose of the building $100,000 over the asking price, while only showing it on a single day to 23 prospective buyers. This allowed for minimal disruption to tenants and instant offer presentation. The property offered stable returns while providing the buyers an opportunity to build sweat equity by renovating units and increasing rental rates. The highly desirable location also offers tenants easy access to public transportation with the Foster Purple Line stop only a 3-minute walk away. This location is also walkable to: Northwestern University, downtown Evanston and Lighthouse & Clark Street beaches. Contact Steven if you need help buying or selling a multifamily property in Chicago or the surrounding suburbs. If you are interested in better understanding what your property could sell for contact Steven for a free valuation report including financial analysis and comparable sales.

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