Multi-Housing News

Essex Realty Arranges 2 Sales in Chicago’s Lincoln Park

December 08, 2020

Essex Realty Group Inc. has brokered the sale of two historic buildings totaling 107 units in Chicago’s Lincoln Park neighborhood. The communities at 656 and 640 W. Wrightwood Ave. changed hands for $8.6 and $5.9 million, respectively, following the sellers’ more than five decades ownership.

The brokerage assisted all parties, local investors. Doug Imber, Principal Kate Varde, along with Directors Clay Maxfield and Jaimie Steinher represented the sellers, while Principals Jim Darrow and Jordan Gottlieb and Director Jordan Multack worked on behalf of both buyers.

Built in 1930, 656 W. Wrightwood Ave. has 56 studio and one-bedroom apartments on 0.3 acres, Yardi Matrix data shows. The corridor-style elevator buildings are separated by three other properties, and downtown Chicago is 5 miles south. Located between the North Clark and North Halsted Street retail corridors, the buildings are within a mile of the Fullerton and Diversey L stations and Lake Shore Drive.

Earlier this year, the same Essex Realty team brokered the $10.1 million sale of Somerset by the Lake, a 48-unit luxury community in the Chicago suburb of Lake Zurich, Ill.

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.

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Tagged in this post: Doug Imber , Jim Darrow , Jordan Gottlieb , Kate Varde