Chicago Real Estate Investment Firm, Essex Realty Group Secures Premium Price Per Unit in Lakeview Sale

Chicago Multifamily Transaction Overview

Chicago real estate investment firm, Essex Realty Group, Inc., announced the sale of 3507-3509 N. Wilton Ave., an 8-unit center entrance building located in Chicago’s popular Lakeview neighborhood.

Property Highlights: 3507-3509 N. Wilton Ave.

Unit Mix

The property was gut renovated in 2013 and consists of 7 three bedroom/ two bathroom and 1 two bedroom/ two bathroom units.

Modern Amenities and Features

Each unit includes upscale designer finishes,featuring stainless steel appliances, quartz countertops, and contemporary white hardwood kitchen cabinets.

Prime Location in Lakeview

Transit and Accessibility

Positioned just one block from Wrigley field, home of the Chicago Cubs, 3507 N. Wilton Ave. offers unparalleled access to transportation hubs such as the Addison Red Line “L” Station. Additionally, easy access to the CTA Brown, Purple, and Blue Line trains, the UP-NW Metra Line, and the 90/94 Expressway, alongside multiple nearby bus stops, ensures effortless commuting options for tenants.

Essex Realty Group’s Role in the Transaction

During the marketing phase, 3507 N. Wilton generated significant interest from prospective buyers. The property ultimately received multiple offers and closed at an impressive $624,375 per unit. “Multifamily deals delivering cash-on-cash returns above 8% on day 1 are typically not found anywhere on Chicago’s North Side, let alone in Lakeview,” said listing broker Rick Ofman. “This sale is a prime example of how asset condition, location, and assumable debt combine to drive market pricing.”

Work With Chicago Multifamily Brokers

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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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