SOLD
Chicago Multifamily Property On Argyle St. Sells For $1.6M To Local Investor
940 West Argyle Street
MultiFamily
9,250 SF
9,250 SF
Sold 1 year ago
Summary
Sale
ILLINOIS
MultiFamily
9,250 sqft
Chicago-based commercial real estate brokerage firm Essex Realty Group, Inc. has announced the sale of a 6-unit multifamily property located at 940 W. Argyle Street in Chicago’s Uptown neighborhood. The property was sold to a local investor for approximately $1,646,000, with each unit priced at $274,333.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,646,000
- Address: 940 W. Argyle Street, Chicago
- Market: Chicago
The team at Essex Realty Group, led by director Clay Maxfield and associate Mack Quaid, represented the seller, a local investor, in the transaction. Their extensive marketing campaign resulted in over 12 property tours and multiple offers. On the buyer side, the team was represented by President Doug Imber, Principal Kate Varde, and Directors Jaimie Steinher and Dan Shepherd.
The property at 940 W. Argyle Street consists of five large 3 bed/1 bath units and one 2 bed/1 bath unit. The units feature hardwood floors, vintage details, and varying levels of kitchen and bath finishes. Situated within 0.20 miles from the new Argyle CTA Red Line station, the location offers easy access to transportation.
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7
Agents
5
Agencies
2
Details
SOLD
IMAGE: Doug Imber, Kate Varde, Dan Shepherd, Jaimie Steinher & Clay Maxfield
DATE: 03/12/2021
ADDRESS: 940 W. Argyle Street
MARKET: Chicago
ASSET TYPE: Multifamily
BROKERS: Clay Maxfield, Doug Imber, Kate Varde, Jaimie Steinher & Dan Shepherd - @chicagomultifamily_essexrealty
SALE PRICE: $1,646,000
UNITS: 6 ~ PPU: $274,333
NOTE: Chicago-based commercial real estate brokerage firm Essex Realty Group, Inc. is pleased to announce the sale of 940 W. Argyle Street, a 6-unit multifamily property located in Chicago’s Uptown neighborhood.
The team of director Clay Maxfield and associate Mack Quaid represented the seller, a local investor. This Essex team conducted an extensive marketing campaign resulting in more than 12 property tours and multiple offers. The buyer, a local investor in a 1031 exchange, purchased the property for approximately $1,646,000 which equates to $274,333 per unit. The team of President Doug Imber with Principal Kate Varde and Directors Jaimie Steinher and Dan Shepherd represented the buyer.
“This property has been meticulously maintained by the same owners for almost 40 years. The proximity to Lake Michigan, the large lot size, and value-add opportunity were just three of the many key attributes of this deal,” explained Maxfield.
940 W. Argyle Street is comprised of five large 3 bed/1 bath units and one 2 bed/1 bath unit. The apartments feature hardwood floors, vintage details, and varying levels of kitchen and bath finishes. The property is conveniently located within 0.20 miles from the new Argyle CTA Red Line station.View on map
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Address940 West Argyle Street
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