Adjacent Multifamily Properties Come to Market in Edgewater

Essex Realty Group, Inc. has been selected to market two adjacent multifamily properties in Magnolia Glen, located within Chicago’s Edgewater neighborhood. The properties are available individually or as a portfolio.

5861 N. Magnolia Ave. is a traditional Chicago three-flat comprised of three-bedroom apartment units, while 5865 N. Magnolia Ave. is a six-unit building consisting of one- and three-bedroom layouts. The properties have been well maintained and received extensive capital improvements over the past several years.

Presently, six of the nine apartments are fully furnished, short-term corporate rentals. A new owner has the opportunity to leverage this strategy or convert the six units back to annual leases for ease of management.

The portfolio is listed for sale by the Essex team of Rick Ofman, Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd. It’s listed at a combined price of $2,200,000.