Essex Realty Group Facilitates $1.88M Sale Of Jefferson Park Luxury Townhomes
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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
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- Location5640 West Carmen Avenue, Jefferson Park, Chicago, IL, USA
- Sale Price$1,880,000
- Asset TypeMultiFamily
- Parties3 Brokers, 1 Agency
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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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