Essex Brokers Two Multifamily Buildings in Niles, IL

July 19, 2021

CHICAGO, IL Essex Realty Group, Inc. is pleased to announce the sale of 8861 Cumberland Avenue and 8890 Root Street, two six-unit multifamily buildings located in the Cook County suburb of Niles.

Essex Director Anthony Citriglia represented the seller, a local investor, in this transaction. Within a two-week timeframe, Essex led an extensive marketing campaign resulting in more than 14 property tours and multiple offers. A local investor purchased the property for approximately $1,300,000. Essex Director Derek Kaptanoglu represented the buyer.

“While the buyer traditionally invests throughout Chicago’s South and West suburbs, he saw untapped potential in these Niles properties,” explained Citriglia. He continued, “There is strong rental demand throughout Niles, plus the area has shown steady rental increases year after year.”

8861 Cumberland Avenue and 8890 Root Street are situated one block apart from each other in the Chicago suburb of Niles. Both are comprised of a mix of one- and two-bedroom apartment units. Investors were drawn to these multifamily investment opportunities due to the value-add opportunity presented.

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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