Essex Hired To Sell Two Multifamily Assets In East Rogers Park, Bowmanville
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been selected to exclusively market two Chicago properties, 1625 W. Greenleaf Avenue in East Rogers Park and 2030 W. Berwyn Avenue in Bowmanville.
1625 W. Greenleaf Avenue is an exceptional “L” shaped walk-up multifamily property located at in Chicago’s beautiful East Rogers Park neighborhood. Listed for $1,990,000, this 13-unit property is comprised of a mix of one- two- and three-bedroom apartments. The property has been under the same ownership for over 20 years and has been well maintained during its tenure. Over the years, several units were moderately renovated with updated kitchens and bathrooms (newer cabinetry and stone countertops). The units feature hardwood flooring throughout the apartments, decorative fireplaces, wood trim, and crown molding, and six apartments include a separate dining room. This is an extremely low maintenance property with very manageable expenses. An investor has the extremely rare opportunity to acquire a multi-family asset in an area of Chicago that has seen tremendous growth and development.
“Based on comparable properties in the area, the subject’s rents are far below the market, and the property offers a new owner multiple value-add opportunities. With the favorably sized units and an unprecedented demand for housing in this East Rogers Park location, a new owner can achieve tremendous future upside,” explained Essex Director Jacob Goldstein. Goldstein and Essex Principal Steve Livaditis are the listing brokers.
2030 W. Berwyn Avenue is a six-unit multifamily property located in Bowmanville, a low-density neighborhood nestled between Lincoln Square, Ravenswood, and Edgewater. The unit mix is comprised of two, three, and four-bedroom layouts, and two of the units are large duplex apartments with an additional live/workspace. The apartments were all recently rehabbed, and each unit has hardwood flooring throughout accompanied by various kitchen designs with modern bathrooms. Kitchens feature either granite or quartz countertops with backsplash, cherry or white cabinetry, stainless appliances, including dishwashers.
An investor or owner user has an opportunity to purchase an attractive six-unit property that has been updated and requires minimal upkeep. This is a perfect turnkey asset for an investor that can slightly raise the rents to market and continue to generate income passively. 2030 W. Berwyn Avenue is listed for $1,875,000 by Livaditis and Goldstein.
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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