SOLD
Essex Realty Group Sells 6-Unit Multifamily Property In Pilsen, Chicago For $1.08M
1417 West Cullerton Street
MultiFamily
3,125 SF
3,125 SF
Summary
Sale
ILLINOIS
MultiFamily
3,125 sqft
Essex Realty Group, Inc. is pleased to announce the sale of 1417 W. Cullerton Street, a six-unit multifamily property located in Chicago’s Pilsen neighborhood. The property closed for $1,080,000 or $180,000 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,080,000
- Address: 1417 W. Cullerton St., Pilsen, Chicago
- Market: Pilsen, Chicago
According to Co-Star Comps, this is the highest price per unit for a multi-family property featuring five units or more sold in the last year. The property features four units in the front building and two units in the rear coach house. Each apartment includes hardwood floors, stainless steel appliances, granite countertops in the kitchen, and individual HVAC and hot water tanks. Minor cosmetic updates could potentially increase rents over time.
The property is located on the south side of Cullerton Street, just west of Loomis Street, and is conveniently situated less than one mile from both the 18th Street and Damen Pink Line CTA Stations. It is also in close proximity to Pilsen's popular 18th Street, which offers a variety of trendy restaurants, bars, and entertainment options.
The seller, a local investor, was represented by Essex Principals Jim Darrow and Jordan Gottlieb, along with Director Jordan Multack. The buyer was represented by Essex Director Matt Feo.
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Details
SOLD
IMAGE: Matt Feo, Jordan Gottlieb, Jordan Multack & Jim Darrow
DATE: 02/19/2021
ADDRESS: 1417 W. Cullerton St.
MARKET: Pilsen, Chicago
ASSET TYPE: Multifamily
BROKERS: Jordan Multack @Multifamily_multack, Matt Feo @matt_feo_multifamily & Jim Darrow, Jordan Gottlieb - @chicagomultifamily_essexrealty,
SALE PRICE: $1,080,000
UNITS: 6 ~ PPU: $180,000
Essex Realty Group, Inc. is pleased to announce the sale of 1417 W. Cullerton Street, a six-unit multifamily property located in Chicago’s Pilsen neighborhood.
The property closed for $1,080,000 or $180,000 per unit. According to Co-Star Comps, this is the highest price per unit for a multi-family property featuring five units or more sold in the last year. Essex Principals Jim Darrow and Jordan Gottlieb, with Director Jordan Multack represented the seller, a local investor. Essex Director Matt Feo represented the buyer.
“The buyer found a great opportunity in 1417 W. Cullerton as this property is a well-maintained asset located in a great pocket within a vibrant and growing neighborhood,” explains Feo.
1417 W. Cullerton Street features four units in the front building and two units in the rear coach house. Each apartment features beautiful hardwood floors, stainless steel appliances, granite countertops in the kitchen, and individual HVAC and hot water tanks. A new owner could likely make minor cosmetic updates to the units and increase rents over time.
The property is located on the south side of Cullerton Street, just west of Loomis Street, and is conveniently located less than one mile from both the 18th Street and Damen Pink Line CTA Stations. The property sits in a prime location of Pilsen, just a few blocks from Pilsen’s popular 18th Street, which features trendy restaurants, bars, and entertainment options.View on map
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Address1417 West Cullerton Street
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