Essex Realty Group Brokers $4 Million Sale of 41,656 SF Development Site in Logan Square

CHICAGO, IL – Essex Realty Group, LLC announced the successful $4 million sale of 1837–59 N. Spaulding Avenue, a 41,656-square-foot residential development site located at the corner of Spaulding Avenue and Cortland Street in Chicago’s highly sought-after Logan Square neighborhood.

Essex Realty Group Principal Jim Darrow, Principal Jordan Gottlieb, and Director Brian Keegan exclusively represented the seller, while Principal Matt Feo represented the buyer in the transaction.

Transaction Summary

Logan Square Development Site Offers Rare Scale

Located just blocks from Palmer Square, the property presented a rare opportunity to acquire a development site of meaningful scale in one of Chicago’s strongest residential submarkets.

The 41,656-square-foot site is surrounded by established residential streets, premier housing stock, neighborhood retail, parks, and convenient access to public transportation, providing an attractive setting for future residential development.

Broker Representation

Jim Darrow, Jordan Gottlieb, and Brian Keegan exclusively represented the seller, while Matt Feo represented the buyer.

Quote

“Logan Square continues to be one of Chicago’s most compelling residential neighborhoods, and opportunities of this size are increasingly difficult to replicate. We’re proud to have delivered such an impactful result for the seller and to be a part of another transformative project for the neighborhood,” said Brian Keegan.

Logan Square Development and Investment Activity

Logan Square continues to experience strong residential and commercial growth, supported by its historic architecture, vibrant arts and dining scene, expansive boulevard system, and proximity to downtown Chicago.

The neighborhood’s continued investment and development have reinforced its position as one of Chicago’s most desirable residential markets. The sale of 1837–59 N. Spaulding Avenue further demonstrates continued investor interest in well-located development opportunities within the neighborhood.

Work With Essex Realty Group

Essex Realty Group specializes in the sale of multifamily properties, development sites, and investment real estate throughout Chicago and the surrounding suburbs. Our team provides market expertise, strategic marketing, and transaction advisory services to help property owners and investors maximize value.

To discuss a development site or multifamily investment opportunity in Logan Square or elsewhere in Chicago, contact Essex Realty Group.

About Essex Realty Group

Essex Realty Group, LLC is a Chicago-based commercial real estate brokerage specializing in multifamily investment sales and development opportunities. The firm provides advisory and transaction services for apartment buildings, mixed-use properties, development sites, and multifamily portfolios throughout Chicago and the surrounding suburbs. Essex Realty Group combines market expertise, proprietary research, and a relationship-driven approach to help investors maximize value and successfully execute their real estate objectives.