Essex Realty Group Brokers 4.3MM Sale of Buena Park Value-Add Apartment Building

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., is pleased to announce the sale of 821 W. Montrose Avenue, an apartment building located in Chicago’s sought-after Buena Park neighborhood, just steps from Lake Michigan.

Essex Managing Director, Brian Karmowski represented the seller of the transaction, hosting over 25 tours and attracting significant interest from prospective buyers. Ultimately, the property sold for above the listing price, at $4,300,000, with Essex Managing Director Matt Feo and Director Abe Eilian representing the buyer. The transaction shows the property’s desirability and its status as a rare find in a neighborhood lacking comparable value-add offerings.

“821 Montrose was one of the last untouched vintage buildings in the neighborhood. While previous ownership had taken great care of the property, Montrose was a tremendous value-add opportunity, and we’re excited to watch the transformation. Congratulations to both the buyer and seller on a successful transaction.” said Brian Karmowski, Managing Director at Essex Realty Group, Inc.

The property consists of 23 units, offering a desirable mix of 1, 2, and 3-bedroom layouts. It features a shared green space, and six surface parking spaces located at the rear. This vintage building boasts high ceilings and large layouts, presenting an excellent opportunity for modernization or conversion to suit various needs.

Located .2 miles from Lake Shore Drive, .5 miles from the Wilson Red Line stop, and situated near several bus lines that run along Montrose Ave and Sheridan Rd, the building provides superior access to the surrounding neighborhoods and downtown area.