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

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.