RE Journals

Essex Brokers $8.9 Million Multifamily Portfolio in Addison

April 23, 2024

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., has negotiated the sale of a six-building multifamily portfolio consisting of 83 total units. The portfolio sold for
$8,875,000, or $106,928 per unit.

The buildings are located in Chicago’s western suburb of Addison at 505 Stevens Dr., 530 Stevens Dr., 516 Green Oaks Ct., 524 Green Oaks Ct., 521 Green Oaks Ct., and 529 Macie Ct. The portfolio consisted of 15
one bedroom/one-bathroom units and 68 two bedroom/one-bathroom units.

The Essex team of Michael Anguiano, Jeremy DeMarco, Robert Berman, Daniel Shabsin, and Joe Kalhammer facilitated the transaction on behalf of the private seller. “The scale and upside with the portfolio combined with the favorable mix made for an attractive investment for the local buyer,” said Anguiano.

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