SOLD
Essex Realty Facilitates Sale Of Niles Multifamily Building For $1.15M
7560 Waukegan Road
MultiFamily
850 SF
850 SF
Sold 1 year ago
Summary
Sale
ILLINOIS
MultiFamily
850 sqft
An off-market transaction facilitated by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. resulted in the sale of a multifamily building located at 7560 Waukegan Road in Niles, a suburb of Chicago. The property, situated on the southwest corner of Waukegan Avenue and Howard Street, consists of nine units with a mix of one-bedroom and two-bedroom floorplans.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $1,150,000
- Units: 9
- Price per Unit: $127,778
- Address: 7560 Waukegan Road, Niles
- Market: Niles, Near North Chicago Suburb
Anthony Citriglia from Essex Realty served as the broker for this transaction. It marks the 6th Niles area deal that Citriglia has successfully brokered in the past 14 months. Niles attracts investors due to its favorable location near the northwest side of Chicago, offering a suburban lifestyle with easy access to the city and its vibrant northwest neighborhoods. The area also experiences high rental demand and consistent rental rate growth, making it an attractive choice for real estate investors. Many properties in Niles are managed by long-term owners who rent to tenants below market rates, presenting an opportunity for investors to renovate and increase rental income.
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Details
SOLD
IMAGE: Anthony Citriglia
DATE: 09/15/2021
ADDRESS: 7560 Waukegan Road
MARKET: Niles, Near North Chicago Suburb
ASSET TYPE: Multifamily
BROKERS: Anthony Citriglia (@Mr_Multifamily) - Essex Realty (@ChicagoMultifamily_EssexRealty)
SALE PRICE: $1,150,000
UNITS: 9 ~ PPU: $127,778
NOTE: Essex Brokers Facilitate Sale of Niles Multifamily Building
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 7560 Waukegan Road located in the Chicago suburb of Niles. Situated on the southwest corner of Waukegan Avenue and Howard Street, this nine-unit apartment building is comprised of one one-bedroom and eight two-bedroom apartment floorplans.
Essex Director Anthony Citriglia was the broker on this off-market transaction.
This is the 6th Niles area transaction Citriglia has brokered over the last 14 months.
“Investors are draw to investment opportunities in Niles for a few reasons. Niles is situated in a great pocket near the northwest side of Chicago offering the comforts and suitability of a suburb, while still giving you quick and easy access to Chicago and some of its vibrant northwest neighborhoods,” explained Citriglia. He continued, “the area also consistently experiences strong rental demand and has shown a steady rental increase year after year, which makes it a solid investment choice. There are a large number of properties managed by long-term owners renting to tenants at below market rental rates. These types of properties create a great opportunity for investors, who can renovate the properties and subsequently bring rents up to market.”View on map
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Address7560 Waukegan Road
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