Essex Brokers Multiple Wheaton Multifamily Transactions
CHICAGO, IL – Essex Realty Group, Inc. is pleased to announce the sale of 1314 E. Roosevelt Road, a six-unit multifamily building located in the DuPage County suburb of Wheaton.
Essex Director Anthony Citriglia was the broker on the transaction. Within a four-week timeframe, Essex led an extensive marketing campaign resulting in more than five property tours and multiple offers. A local investor purchased the property for approximately $585,000, or $97,500 per unit.
“We continue to see an increase in demand for multifamily properties located in Wheaton and neighboring DuPage County cities,” said Citriglia. He continued, “In the last nine months our team has closed three transactions in Wheaton and currently have another multifamily property under contract. The seller of this property was a long-term owner and recognized this demand as well, so he elected to take advantage of this current market.”
The Wheaton investment real estate market is currently active. In May 2021, Essex Director Derek Kaptanoglu was the broker on a neighboring transaction. 1324 E. Roosevelt Road and eight-unit multifamily building located just steps from 1324 E. Roosevelt Road, sold to a local investor in an off-market transaction for $845,000, or $105,625 per unit.
“1324 E. Roosevelt offered my client a stabilized and strong cash flow property in a high demand rental corridor of DuPage County. The building was fully occupied at closing with a number of recent capital improvements including a new steel walkway, and spray coat to the roof,” explained Kaptanoglu.
In October 2020, Essex brokers also facilitated the sale of a nearby property located at 1715 E. Roosevelt Road in Wheaton. A local investor purchased the 12-unit multifamily property for $1,590,000.
Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.
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