Essex Closes Bensenville Multifamily Property In Under Three Months

CHICAGO, IL – Essex Realty Group, Inc. is pleased to announce the sale of 1001 Argyle Street, a 24-unit multifamily property located in Bensenville, IL.

Essex was engaged to market 1001 Argyle Street in mid-January 2021. After conducting an extensive marketing campaign resulting in more than 16 property tours and multiple offers, the property was placed under contract after approximately three weeks on the market. The property closed approximately six weeks later for $2,550,000. Essex Director Anthony Citriglia represented the buyer, a local investor, in this transaction. Essex Directors Brian Karmowski and Brian Mond represented the seller, a local investor, in the transaction.

“Argyle is a perfect example of the Essex marketing platform – several tours in a two-week span, multiple offers, and closing in just 45 days. This was a team effort, and I congratulate all parties involved,” said Karmowski.

The Property has been very well-maintained by current ownership with newer mechanicals and updates to all common areas and several units. Situated on a 1.5 acre lot, the property affords tenants with plenty of parking (42 surface spaces) and ample green space for outdoor activities. The Bensenville Metra Station is located approximately 2.5 miles from the property, allowing for easy access to neighboring suburbs and downtown Chicago.

“We continue to see an increase in demand for multifamily properties located in DuPage County. Our client was a long-term owner and recognized this as well and took advantage of the current market,” explained Mond.