SOLD
Essex Realty Group Inc Facilitates $6.8M Sale Of Oak Park Multifamily Building
1116 Washington Boulevard
MultiFamily
Sold 1 year ago
Summary
Sale
ILLINOIS
MultiFamily
The stately 55-unit courtyard building located at 1116 Washington Boulevard in Oak Park has been sold for $6,825,000. The property was recently facilitated for sale by Chicago-based multifamily brokerage firm Essex Realty Group, Inc. The unit mix consists of studio, one- and two-bedroom floorplans with hardwood flooring, stainless steel appliances, granite countertops, espresso kitchen cabinets, and new bathroom vanities. The building features on-site laundry facilities and is conveniently located near public transportation, including the Harlem/Lake Green line CTA Station and Oak Park UP-W Metra Station.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,825,000
- Address: 1116 Washington Blvd
- Market: Oak Park
- Units: 55
- Price Per Unit: $124,091
The multifamily team at Essex Realty Group, Inc., comprising of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd, and Rick Ofman, represented both the seller and the buyer in this transaction. The sale of 1116 Washington Boulevard presented a rare opportunity to purchase a beautifully renovated courtyard building in the popular suburb of Oak Park.
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6
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Agencies
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Details
SOLD
IMAGE: Dan Shepherd, Jaimie Steinher, Doug Imber, Kate Varde & Rick Ofman
DATE: 03/23/2022
ADDRESS: 1116 Washington Blvd
MARKET: Oak Park
ASSET TYPE: Multifamily
BROKERS: Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd & Rick Ofman - Essex Realty (@ChicagoMultifamily_EssexRealty)
SALE PRICE: $6,825,000
UNITS: 55 ~ PPU: $124,091
NOTE FROM BROKER: Essex Sells $6.8M.8 Oak Park Multifamily Building
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1116 Washington Boulevard, a stately 55-unit courtyard building located in the vibrant Cook County suburb of Oak Park.
A multifamily team comprised of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd, and Rick Ofman of Essex Realty Group, Inc. was hired by the seller to exclusively market the Washington property for sale. The property sold to a local investor for $6,825,000. Imber, Varde, Steinher, Shepherd and Ofman also represented the buyer.
The property is located on the north side of Washington Boulevard, just east of Harlem Avenue. The unit mix is comprised of studio, one- and two-bedroom floorplans. Renovated between 2015 and 2016, the apartments have hardwood flooring, stainless steel appliances, granite countertops, espresso kitchen cabinets and new bathroom vanities. Laundry facilities are located on-site. The property is conveniently located approximately 0.18 miles south of the Harlem/Lake Green line CTA Station and Oak Park UP-W Metra Station providing quick and easy access to downtown Chicago.
Located on a beautiful tree-lined street, the property benefits from close proximity to public transportation and recent interior renovations and exterior capital improvements. 1116 Washington Boulevard presented a rare opportunity to purchase a beautiful courtyard building in one of Chicago’s most popular suburbs.View on map
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Address1116 Washington Boulevard
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