Essex Realty Group Executes Successful Sale of $1.7MM Multifamily Property in Summit, Illinois
Chicago Multifamily Transaction Overview
Chicago Real Estate Agency, Essex Realty Group, LLC is pleased to announce the successful sale of 7349 W. 57th Street, the 17-unit apartment building is located in the heart of Summit, IL. The well-connected suburb on Chicago’s Southwest Side, was exclusively listed and sold by Essex Director Anthony Citriglia for $1,717,500.
Property Highlights: 7349 W. 57th Street
Unit Mix and Renovations
The well-maintained property consists of 17 one-bedroom, one-bathroom units, with 15 of the units recently renovated, featuring modern finishes and electric baseboard heat.
Prime Location in Summit
Transit and Accessibility
The property’s proximity to Midway International Airport, I-55, and the Metra Heritage Corridor line provides convenient access to downtown Chicago, making the property highly attractive to tenants looking for easy access to transportation and downtown Chicago.
Essex Realty Group’s Role in the Transaction
“We’re pleased to have closed the sale of 7349 W. 57th Street, further showing that investors continue to seek reliable, cash-flowing suburban apartments,” commented Citriglia.
Neighborhood Appeal for Investors
This transaction reflects continued investor confidence in the strength of Summit’s rental market and reinforces the property’s long-term income potential. The sale of 7349 W. 57th Street further demonstrates the appeal of well-located, professionally managed multifamily properties in Chicago’s inner-ring suburbs.
To speak with one of our Chicago real estate brokers, please fill out the form below.
MESSAGE US
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.
If you enjoyed this content and would like to stay in the loop, please consider following us on LinkedIn and Instagram!