Essex Realty Group Brokers Successful Sale of Two Northwest Suburban Apartment Buildings

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, LLC announced the sale of two fully occupied apartment buildings in the near northwest Chicago suburbs: 8156 Walsh Lane in River Grove and 9452 Maple Drive in Rosemont. The properties were brokered by Essex Associate Karla Galva, who represented both the buyer and the seller of each transaction.

8156 Walsh Ln. consists of three 1-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, seven surface parking spaces, and one nonconforming garden-level studio. Ownership has invested over $125K in CapEx in the last four years. Notable upgrades include new copper plumbing, refinished hardwood floors, and interior renovations in five of six units.

Within the highly desirable near-northwest suburb of River Grove, the property stands near the River Grove Metra Station, serviced by the North Central Service and Milwaukee District West line, and is located along multiple bus routes on Belmont and Cumberland Avenues. Residents of this pocket of River Grove benefit from a quiet suburban location, the conveniences of abundant retail, and easy access to Chicago and the surrounding suburbs.

9452 Maple Drive includes one 1-bedroom/1-bathroom unit, five 2-bedroom/1-bathroom units, and six surface parking spaces. The units feature hardwood floors, updated baths, electric radiant heat, and individual water heaters. Although meticulously maintained and managed by the same family since 1986, recent capital improvements to the property include new windows, doors, air conditioning sleeves, copper plumbing, and an updated roof.

Within the bustling northwest suburb of Rosemont, 9452 Maple Dr. is located near an abundance of retail, dining, and entertainment options. Less than a mile from the Rosemont CTA Blue Line and interstates I-90 and I-294, there is easy access to downtown Chicago and the surrounding suburbs. The area is rich with employment options for residents, with several large employers located within minutes of the property, including O’Hare International Airport, Rivers Casino, and numerous 5-star hotels.

“The 6-flat in Chicago’s northwest suburbs has experienced growing demand, attracting both new and seasoned multi-family investors. The Essex Marketing Platform successfully reached a broad investor audience, as demonstrated by more than 20 property tours conducted. Both properties garnered strong interest, going under contract within 45 days of marketing with multiple offers.” said Karla Galva, Associate at Essex Realty Group, LLC.

Throughout the marketing phase, the properties hosted nearly 30 tours, attracting significant interest from prospective buyers. After garnering numerous competitive offers, 9452 Maple Dr. sold for $900,000, a new record price for the Village of Rosemont, and 8156 Walsh Ln. sold for $850,000.