Essex Realty Group Completes $9.3MM Sale in the Heart of Loyola University’s Lakeshore Campus

Chicago Multifamily Transaction Overview

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC is pleased to announce the sale of a 40-unit apartment building located at 6565-6589 N. Lakewood Ave., in the Loyola University pocket of Rogers Park. The transaction was led by Essex Principal Steven Livaditis and Managing Director Matt Feo, who represented the seller, while Essex Managing Director Rick Ofman represented the buyer.

Essex Realty Group’s Role in the Transaction

“This sale perfectly demonstrated how the right brokerage team and a strategic marketing approach can transform an overlooked property into a swift, competitive transaction,” said Feo/Livaditis, Listing Team, Essex Realty Group.

After being marketed by several other firms, the Essex platform quickly generated strong interest by targeting strategic buyers who specialized in the student housing market. As a result, the property went under contract within just one week of being listed.

Property Highlights: 6565-6589 N. Lakewood Ave.

Unit Mix and Features

This 40-unit classic courtyard apartment building features a well-balanced mix of one, two, and three-bedroom units with open floor plans and spacious living areas. Additionally, there is a lower-level studio unit. Renovated in 2019, the apartments offer modernized kitchens and bathrooms, a combination of hardwood and luxury vinyl flooring, and classic fixtures throughout. Residents enjoy a beautifully landscaped courtyard, convenient on-site laundry facilities, and secure bike storage.

Prime Location in Rogers Park

Neighborhood Appeal for Investors

This transaction emphasizes the ongoing interest from investors in well-located, stabilized multifamily properties in strong-performing submarkets. With a solid rental history, mainly students from Loyola University, Rogers Park is an attractive area for both renters and investors. Its appeal lies in excellent transit access, cultural diversity, proximity to higher education institutions, and a vibrant community atmosphere.

Transit and Accessibility

The property is ideally positioned just one block from the Loyola Red Line station, a five-minute walk to Loyola University’s Lake Shore Campus, and mere steps from Lake Michigan’s lakefront and beaches. Rogers Park continues to benefit from a stable and growing renter base, driven by its proximity to transit, educational institutions, and thriving local businesses.

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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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