SOLD
Becovic Acquires 36-Unit Multifamily Building In Rogers Park For $3.85M
1649 West Jonquil Terrace
MultiFamily
10,254 SF
10,254 SF
Sold 1 year ago
Summary
Sale
ILLINOIS
MultiFamily
10,254 sqft
A 36-unit multifamily property located at 1649 W. Jonquil Terrace in Rogers Park, Chicago, was recently sold for $3,850,000. The courtyard building consists of a mix of studio and two-bedroom apartment units, along with 2,000 SF of ground level commercial space. The property is situated in a great location, less than half a mile west of Rogers Park Beach and Lake Michigan on the southeast corner of Jonquil Terrace and Paulina Street. The Howard Red, Purple, and Yellow CTA station is conveniently located just one block south of the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,850,000
- Units: 36
- Price Per Unit: $106,944
- Market: Rogers Park, Chicago
The seller, a local investor, was represented by Matt Feo of Essex Realty Group, Inc. in this off-market transaction. The buyer, Becovic, is a local investor as well. Becovic expressed excitement about adding The Jonquil Terrace to their other north of Howard communities. The sale was facilitated by Essex Director, Matt Feo, who represented both the seller and the buyer in the deal. The transaction closed on August 26, 2021.
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Agents
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Details
SOLD
IMAGE: Matt Feo
DATE: 08/26/2021
ADDRESS: 1649 W. Jonquil Terrace
MARKET: Rogers Park, Chicago
ASSET TYPE: Multifamily
BUYER: Becovic
BROKER: Matt Feo (@Matt_Feo_Multifamily) - Essex Realty (@ChicagoMultifamily_EssexRealty)
SALE PRICE: $3,850,000
UNITS: 36 ~ PPU: $106,944
NOTE: Essex Brokers Facilitate Sale of $3.85M Rogers Park Sale
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1649 W. Jonquil Terrace in Chicago’s Rogers Park neighborhood. This 36-unit courtyard building is comprised of a mix of studio and two-bedroom apartment units, along with 2,000 SF of ground level commercial space which has been occupied by “Just Harvest”, a nonprofit organization and neighborhood ally.
Essex Director Matt Feo represented the seller, a local investor, in this off-market transaction. The property sold to a local investor, Becovic, for $3,850,000, which equates to $106,944 per unit. Feo also represented the buyer in this transaction.
“We love the north of Howard area of Rogers Park,” said Sal Becovic. President at Becovic. “We are excited to add The Jonquil Terrace to our other north of Howard communities.”
The property is situated in a great location less than one-half mile west of Rogers Park Beach and Lake Michigan on the southeast corner of Jonquil Terrace and Paulina Street. The Howard Red, Purple, and Yellow CTA station is conveniently located just one block south of the property.View on map
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Address1649 West Jonquil Terrace
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