RE Journals | Illinois Multi-Family

Bowmanville apartment building trades hands

June 20, 2022

Essex Realty Group, Inc. facilitated the sale of 5355 N. Damen Ave., an 11-unit apartment building located on the corner of Damen Avenue and Balmoral Avenue in Chicago’s Bowmanville neighborhood.

The seller, a local investor, hired the Essex Team of Rick Ofman, Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd to market the property for sale. Essex led a marketing campaign resulting in more than 10 property tours and the property went under contract after less than 30 days on the market. Essex Director Matt Feo represented the buyer who purchased the property for $2,150,000.

The property is comprised of eight one bed/one bath apartments and three two bed/one bath duplex apartments. The property was renovated in the late 2000’s and the units all have condo-quality finishes, individual HVAC, as well as outdoor space, plus there is laundry on-site in the basement. 5355 N. Damen Ave. presented a new owner with the opportunity to acquire a low-maintenance asset in an excellent location.

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Tagged in this post: Doug Imber , Kate Varde , Rick Ofman , Matt Feo