Essex Realty Closes Six-Flat Sale in East Rogers Park
Essex Realty Group recently facilitated the sale of 1426 W. Jonquil Terr., a center-entrance six-flat in East Rogers Park. The property sold to a local investor for $1,037,500, or $172,916 per unit.
The seller, also a local investor, hired the Essex team of Steve Livaditis and Jacob Goldstein to market the property for sale. Director Abe Eilian represented the buyer.
“1426 W. Jonquil Terr. was a very special property to work on, as its vintage appeal has been well-preserved over the 30-plus years the ownership entity has held this asset,” said Goldstein.
He continued, “The new buyer is able to take advantage of the many value-add strategies this deal has to offer. Rents were significantly below market at the time of sale and the extremely large layouts offered investors the opportunity to add bedrooms, convert to condos, or renovate and bring rents to market level.”
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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