Essex Realty Group Executes Successful Sale of Evanston Value-Add Property

Chicago Multifamily Transaction Overview

Essex Realty Group, Inc., one of the top Chicago real estate brokerages,  announced it has successfully completed the sale of 1327 W. Brummel St., a 9-unit multifamily building located in Evanston.

Property Highlights: 1327 W. Brummel St

Unit Mix

The property features eight one-bedroom, one-bathroom units, and a spacious duplexed-down three-bedroom, one-bathroom unit.

Features

Additionally, it includes a large adjacent parking lot with twelve spaces. Multifamily brokers – Essex Director Abe Eilian and Managing Director Matt Feo represented the seller, while Essex Principal Kate Varde represented the buyer.

Essex Realty Group’s Role in the Transaction

The property garnered significant interest with 18 buying groups touring the property and 4 offers.

Neighborhood Appeal for Investors

“Evanston is a low velocity market in the multi-family space, so there aren’t many opportunities for investors to acquire units. This property was well-maintained by the current owner and had additional upside for a new owner to capture, so we were confident we’d be able to create a competitive bidding environment and ultimately achieve top-dollar for the Seller,” said Abe Eilian, Essex Realty Group Director.

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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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