Essex Realty Group Brokers Sale of 24-Unit Rogers Park Apartment Building

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., announced the sale of corner walk-up apartment building at 7620 N. Sheridan Rd., located in Chicago’s far north Rogers Park neighborhood.

The property consists of 24 units, 18 of which are studios, and the remaining 6 units are 1-Bed/1-Bath apartments. Built in 1917, the units feature charming vintage details, such as hardwood floors and radiator heat.

The transaction was completed with Essex Principals Doug Imber and Kate Varde, and Director Rick Ofman representing the seller and Managing Director Brian Karmowski representing the buyer.

Situated on the southwest corner of North Sheridan Road and North Rogers Avenue, the building is located just one block from Lake Michigan, steps from several city beaches, and less than a mile from the CTA Red, Yellow, and Purple Line.

“Rogers Park continues to be an attractive home for multifamily investment.” said Ofman. “This deal traded at a cap rate lower than some we’ve sold in Lakeview this year! With few new rental properties coming online in the area over the next few years, I expect to see more sales like this one.”

The swift two-month marketing period from listing to closing highlights the property’s strong appeal, drawing significant interest and underscoring the high demand for workforce housing on Chicago’s Northside. Ultimately, the property sold for its full asking price of $2.4 million.