Essex Realty Group Brokers Sale of 100-Unit Courtyard Building Portfolio in Budlong Woods

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC is pleased to announce the $18,500,000 sale of a five-building, 100-unit multifamily portfolio located in Chicago’s Budlong Woods neighborhood.

Transaction Summary

• Transaction Type: Budlong Woods Multifamily Portfolio Sale
• Neighborhood: Budlong Woods
• Property Type: Multifamily Portfolio
• Unit Count: 100 Units
• Sale Price: $18,500,000
• Brokers: Principal Steven Livaditis, Principal Matt Feo, and Managing Director Rick Ofman

Property Overview: 100-Unit Multifamily Portfolio in Budlong Woods

The Berwyn and Campbell portfolio consists of five courtyard apartment buildings totaling 100 units. The properties were held under the same ownership for more than 40 years and offered immediate value-add potential for the new ownership.

The portfolio features expansive two-bedroom, one-bathroom floor plans and includes approximately 70 parking spaces, providing both scale and operational upside within a supply-constrained North Side submarket.

Investment Opportunity for Chicago Multifamily Investors

The transaction reflects continued investor demand for large-scale multifamily communities with value-add potential in established Chicago neighborhoods. Opportunities to acquire assets of this size on the North Side remain limited, particularly as rising construction costs continue to challenge new development feasibility.

“In supply-constrained markets such as Chicago, opportunities to acquire large-scale multifamily communities on the North Side are exceptionally rare. Coupled with rising ground-up construction costs that have made new development increasingly unattainable, we are seeing a significant influx of national investors targeting light value-add opportunities,” said the brokerage team.

Broker Representation in the Budlong Woods Multifamily Portfolio Sale

Essex Realty Group Principals Steven Livaditis and Matt Feo, along with Managing Director Rick Ofman, represented all parties in the transaction.

Budlong Woods Multifamily Investment Market

Budlong Woods continues to attract multifamily investors due to its stable tenant base, proximity to public transit, and access to surrounding North Side neighborhoods. The area offers a mix of vintage courtyard buildings and well-maintained rental housing, with consistent demand from renters seeking affordability relative to nearby neighborhoods.

As inventory of value-add opportunities remains limited, assets with clear renovation potential and scale continue to drive competitive bidding and strong pricing dynamics across Chicago’s North Side.

Read More About This Transaction

This Budlong Woods multifamily portfolio sale was also featured in Bisnow and RE Journals, highlighting continued demand for large-scale value-add apartment communities across Chicago’s North Side.

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About Essex Realty Group

Essex Realty Group, LLC has served Chicago’s investment real estate market since 1990 as a leading Chicago multifamily brokerage firm specializing in apartment building sales throughout the city and surrounding suburbs.