Essex Realty Group Brokers the Sale of 12 Units in Humboldt Park

Steven Livaditis and Jacob Goldstein of Essex Realty Group were exclusively hired to represent the seller of 1101 N. Avers, a 12-unit brick, walk-up building in the Humboldt Park neighborhood of Chicago.

This property was owned and managed by the same family entity for over 25 years. Avers was a true value-add opportunity as most of the units could be converted from large, four room 1-bedroom apartments into 2-bedroom floorplans. As of late, this neighborhood has been experiencing a tremendous amount of investment activity as it is in an emerging opportunity zone.

The property was aggressively marketed, and ultimately closed within 60 days of listing the property.

Jordan Multack represented the buyer on the transaction.

The purchase price was $785,000.