Essex Closes Trophy Multifamily Asset In Ravenswood

Chicago-based investment real estate brokerage firm Essex Realty Group, Inc. is pleased to announce the sale of 4540 N. Ravenswood Avenue, an exceptional new construction multifamily property located in Chicago’s sought-after Ravenswood neighborhood.

Essex Principal Steve Livaditis was retained to exclusively market the property for sale on behalf of an out-of-town owner in the transaction. After conducting an extensive marketing campaign resulting in more than 14 property tours and five offers, the property closed for approximately $4,200,000 to a local investor.

“This was quite a unique offering. Constructed by a prominent developer, there was no cutting of corners with this project. The apartments have custom finishes throughout, and the floorplans were incredibly spacious, including large outdoor terraces and rooftop decks. While many competing buildings were offering concessions going into 2021, our property experienced just the opposite, as several units released at 15%+ rent increases during the same period,” explained Livaditis.

This 10-unit trophy asset was delivered in July 2019 and features one, two, and three-bedroom luxury units with simplex, bi-level, and tri-level floorplans. Intelligently designed interiors with modern amenities and parking, the property is within walking distance to the Metra Brown Line.

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.