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

March 07, 2019

5238 N. Neenah Ave. is a 12-unit courtyard apartment building located in Chicago’s Jefferson Park neighborhood. Jefferson Park is a highly desired market amongst apartment investors, however, apartment buildings this size rarely trade hands in this market. The property had been owned and maintained by the same family for 30+ years and has recently received several capital improvements.

The Sellers hired Essex’ Matt Feo to exclusively represent them in the disposition of the asset. Essex procured over 20 property tours and over 10 written offers. Essex’ Matt Feo represented the ultimate Purchaser, a local real estate company.

The property was under contract within four weeks of marketing and closed twelve weeks thereafter.

The price was $1,420,000, approximately 95% of the initial asking price.

Matt Feo represented both the buyer and the seller on the transaction.

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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Tagged in this post: Matt Feo