Essex Closes Deal for Rogers Park Multifamily
Essex Realty Group recently closed the sale of 7416 N. Rogers Ave., a six-unit multifamily property in the North Side’s Rogers Park neighborhood. The buyer, a local investor, purchased the property for approximately $803,660, which equates to approximately $133,000 per unit.
“I congratulate all involved in this transaction as it was a complicated one,” said Matt Feo, Essex director and broker on the sale. “The buyer purchased the property through a 1031 exchange after selling not one, but four real estate assets.”
7416 N. Rogers Ave. features six two-bed/one-bath apartments. A new owner could likely make minor cosmetic updates to the units and increase rents over time. The property is located in close proximity to the Howard CTA Station.
Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily real estate brokerage firm. Contact us to learn more about our recent Chicagoland multifamily and mixed-use property sales and talk to a Chicago multifamily broker today.Read Full Article at Connect Chicago