Multi-Housing News

Essex Realty Arranges Sale of Boutique Chicago Community

March 25, 2020

Essex Realty Group has brokered the sale of 933 W Belle Plaine, a 17-unit luxury community in Chicago’s Buena Park neighborhood. President Doug Imber, Principal Kate Varde and Director Clay Maxfield arranged the transaction. A local 1031 exchange investor acquired the asset for $6.7 million, or $394,117 per unit. Imber and Varde were also instrumental in the sale of another high-end property near The Windy City at the beginning of the year.

The 2017-built community is some 7 miles north of downtown Chicago. The unit mix features one- and two-bedroom apartments, ranging from 661 to 1,160 square feet, according to the property website. All units have keyless entries, private balconies and kitchens with quartz countertops and stainless steel appliances. Amenities include a pet washing station, an elevator, bike storage and 20 parking spaces.

The property is one block north of Irving Park Road and two blocks west of U.S. Route 41. The location is easily accessible through public transport, with several bus stations within walking distance. The immediate area holds various local attractions such as Challenger Park, Montrose Beach and The Aragon Ballroom.

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Tagged in this post: Doug Imber , Kate Varde