Connect CRE Chicago

Corner Multifamily Draws Strong Investor Interest in West Ridge

April 11, 2022

Essex Realty Group recently facilitated the sale of 2453-2457 W. Fargo Ave. a corner 13-unit multifamily property in the Far North Side’s West Ridge neighborhood. The property ultimately sold for $30,000 over the original list price at $1,675,000.

The seller, a local investor, hired Essex directors Abe Eilian and Matt Feo to market the property for sale. Within three weeks, Essex led an extensive marketing campaign resulting in 22 property tours and multiple offers. Essex principal Steve Livaditis and director Jacob Goldstein represented the buyer, a local investor.

“The activity and interest that this property generated is just another indicator of how strong the appetite is for West Ridge and the stability it offers to investors,” said Eilian.

Added Feo, “Pricing a listing correctly is the best way to create momentum in the marketing process; leading to more showings, offers, competition amongst buyers, and ultimately better overall pricing and terms.”

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