Essex Realty Facilitates Sale Of North Riverside Multifamily For $930K

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of a multifamily property located at 9115 Cermak Rd in North Riverside. The property, consisting of 10 units, was sold for a price of $930,000. The deal was brokered by Derek Kaptanoglu of Essex Realty Group, Inc.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $930,000
• Address: 9115 Cermak Rd
• Market: North Riverside

9115 Cermak Rd is a 10-unit multifamily building situated on the south side of Cermak Road, across the street from Broadview Village Square and just south of Hines VA Hospital. The property, which has been under the same ownership for over 25 years, presented a value-add opportunity for the new owner. The unit mix includes eight 1 bed/1 bath apartments and two 2 bed/1 bath apartments. Additional features of the property include an on-site laundry room and 10 parking spaces.

Essex Realty Group, Inc. conducted an extensive marketing campaign for the property, resulting in multiple offers from potential buyers. Ultimately, the property was sold to a local investor.