Essex Realty Group and Essex Capital Markets Complete Addison Multifamily Sale and Financing

CHICAGO, ILLINOIS– Essex Realty Group and Essex Capital Markets are pleased to announce the successful sale and financing of 439-449 West Stevens Drive, a 23-unit multifamily property located in Addison, Illinois.

The well-maintained asset sold for $3,290,000 and features a desirable unit mix offering investors immediate income upside due to below market rents. The transaction was facilitated by Essex Realty Group Director, Anthony Citriglia.

Investment Sales Execution

“This transaction underscores the continued strength of suburban multifamily and the importance of experienced, collaborative parties on all sides. We executed a targeted marketing strategy, generated multiple competitive offers, and ultimately secured a highly qualified buyer. From start to finish, our teams worked closely to navigate the transaction and financing process, ensuring a smooth and successful closing,” said Anthony Citriglia.

Financing Strategy and Structure

Financing for the acquisition was arranged by Essex Capital Markets, which secured a $2.15M agency loan through Freddie Mac. The five-year loan featured an initial two-year interest only period and was structured to support a competitive acquisition.

The financing was facilitated by Directors Asher Motew and Quinn Keenan, along with Managing Director Elliott Quigley.

“Another example of Essex Capital Markets navigating the agency process where execution really matters,” said Asher Motew. “On a deal with tight cash flow, we structured maximum leverage that allowed the sponsor to make a competitive acquisition offer while still preserving returns for their investors.”

Coordinated Platform Advantage

This transaction highlights the collaborative strength of the Essex platform, bringing together Essex Realty Group’s investment sales expertise and Essex Capital Markets’ financing advisory to deliver a coordinated acquisition and capital solution for the sponsor.

Work With Chicago Multifamily Brokers

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Since 1990, Essex Realty Group, LLC has served Chicago’s investment real estate market as a top multifamily brokerage firm, specializing in Chicago multifamily for sale properties. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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