Connect CRE Chicago

Essex Markets Value-Add in Ravenswood

January 31, 2022

Essex Realty Group has been retained to market for sale 4450-4452 N. Ashland Ave. in the North Side’s Ravenswood neighborhood. The property is listed at $3,300,000 by the Essex team of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd and Rick Ofman.

4450-4452 N. Ashland is a 16-unit multifamily property comprised of a mix of studio, one-, two-, and three-bedroom apartments. The units are predominantly equipped with stainless steel appliances, hardwood floors, laminate countertops, and dishwashers.

A new investor has the opportunity to improve the property by modernizing common areas and making modest cosmetic updates to unit interiors. Additional income is generated through four garage parking spaces.

This value-add opportunity is located less than half a mile from the Montrose Brown Line CTA Station and Ravenswood Metra Station.

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Tagged in this post: Doug Imber , Kate Varde , Rick Ofman