Essex Realty Group Facilitates Sale Of Bucktown Multifamily Property For $1.1M
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This MultiFamily property located in IL was sold for $1,100,000 over 2 years ago. The brokers of the deal were Sarah Rider, Jarret Remington, Jordan Gottlieb, and James (Jim) Darrow
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- Location1402 North Maplewood Avenue, Chicago, IL, USA
- Sale Price$1,100,000$122 PPSF
- Area9,000 SF
- Asset TypeMultiFamily
- Parties4 Brokers, 2 Agencies
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Deal Summary
SALE
IMAGE: Sarah Rider, Jordan Gottlieb, Jim Darrow & Jarret Remington
DATE: 11/18/2021
ADDRESS: 1402 N. Maplewood Ave
MARKET: West Bucktown, Chicago
ASSET TYPE: Multifamily
BROKERS: Jim Darrow, Jordan Gottlieb & Sarah Rider - Essex Realty (@Chicagomultifamily_EssexRealty); Jarret Remington (@HomesofChicago) - Compass
ASKING PRICE: $1,195,000
SALE PRICE: $1,100,000
SF: 9,000 ~ PPSF: $122
UNITS: 6 ~ PPU: $183,333
NOTE: Essex Brokers Facilitate Sale of Bucktown Value-Add Property
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1402 N. Maplewood Avenue.
The seller, a local investor, hired the Essex team of Jim Darrow, Jordan Gottlieb and Sarah Rider to exclusively market the property for sale. After an extensive marketing campaign resulting in more than 20 property tours and five offers, a local investor purchased the property for $1,100,000.
1402 N. Maplewood Avenue is a beautiful six-unit greystone apartment building located in Chicago’s West Bucktown neighborhood. The unit mix is comprised of four 2 bed/1 bath apartments and two 3 bed/1bath apartments. Of the six units, three were recently updated with stainless steel appliances, modern cabinetry, granite countertops, renovated bathrooms and washer/dryer in-unit. The property presented multiple value-add strategies including a proven strategy for updating the remaining units and raising rents to capture rental upside.
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1402 North Maplewood Avenue
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