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Essex Realty Group Facilitates $1.88M Sale Of Jefferson Park Luxury Townhomes

5640 & 5641 West Carmen Avenue
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This MultiFamily property located in IL was sold for $1,880,000 almost 4 years ago. The brokers of the deal were Steven (Steve) Livaditis, Matt Feo, and Abe Eilian

Essex Realty Group, Inc. has announced the sale of two buildings located at 5640 and 5641 W. Carmen Avenue in Chicago’s Jefferson Park neighborhood. These buildings consist of eight luxury townhomes, offering a single-family home environment to renters. The townhome units are spacious 2 Bed /2 Bath tri-level units, extensively remodeled with updated kitchens, bathrooms, hardwood flooring, and in-unit laundry. Each unit also has its own parking space. The property is conveniently situated next to the Jefferson Park Metra station and within walking distance of multiple CTA bus stops along Milwaukee Avenue, providing easy access to transportation.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,880,000
  • Units: 8
  • Price per Unit: $235,000

The sale of these townhomes was facilitated by Essex Principal Steve Livaditis, Director Matt Feo, and Director Abe Eilian. Essex Realty Group led an extensive marketing campaign, resulting in multiple offers from regional and local investors. Ultimately, the property was sold to a northside investor who secured agency debt for the purchase. Livaditis highlighted the appeal of these rental units, especially in a post-Covid era, as they offered a desirable living environment for those seeking a larger, more residential-like space in the northside area.

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Deals
  • Location
    5640 West Carmen Avenue, Jefferson Park, Chicago, IL, USA5640 West Carmen Avenue, Jefferson Park, Chicago, IL, USA
  • Sale Price
    $1,880,000$1,880,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Steven (Steve) Livaditis

Steven (Steve) Livaditis

Deals27
Sold$117.8M

Matt Feo

Matt Feo

Deals29
Sold$123.1M

Agency

Essex Realty Group

Essex Realty Group

Agency
Deals380
Volume$1.6B

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Deal Summary

SALE IMAGE: Matt Feo, Steve Livaditis & Abe Eilian DATE: 06/25/2021 ADDRESS: 5640 & 5641 W. Carmen Avenue MARKET: Jefferson Park, Chicago ASSET TYPE: Multifamily BROKERS: Steve Livaditis, Matt Feo, Abe Eilian - (@ChicagoMultifamily_EssexRealty) SALE PRICE: $1,880,000 UNITS: 8 ~ PPU: $235,000 NOTE: CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 5640 and 5641 W. Carmen Avenue, two buildings housing a total of eight luxury townhomes in Chicago’s Jefferson Park neighborhood. Essex Principal Steve Livaditis and Director Matt Feo represented the local sellers in this transaction. Within a short timeframe, Essex led an extensive marketing campaign which resulted in multiple offers from both regional and local investors. The property was ultimately sold to a northside investor that secured agency debt for a purchase price of approximately $1,880,000. Essex Director Abe Eilian represented the buyer. “This was a unique offering with a tremendous amount of upside for the purchaser,” explained Livaditis. He continued, “These townhomes were nestled in a quiet pocket of Jefferson Park, and offered a single-family home environment to renters that have outgrown the typical northside apartment. Demand for these rental units, especially post-Covid was extremely high, which is why the buyers gravitated towards this investment opportunity.” All the townhome units are spacious 2 Bed /2 Bath townhome units. These tri-level units are extensively remodeled with updates that include new modern kitchens, updated bathrooms, hardwood flooring throughout and in-unit laundry. Additionally, each unit has its own parking space. The property is conveniently located directly next to Jefferson Park Metra station and is within walking distance of multiple CTA bus stops along Milwaukee Avenue making for easy access to anywhere a resident may need to commute.

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5640 & 5641 West Carmen Avenue

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