Essex Realty Group Brokers the Sale of a Multi-Family Building in Albany Park

The property is an eight unit vintage, center entrance apartment building located in the Albany Park neighborhood of Chicago. The building was extremely well-maintained and all of the apartments were updated with condo-quality finishes.

The Sellers, a local family operation that self-managed the building for approximately five years, engaged Joe Scheck and Steve Livaditis to exclusively represent their interests in the marketing and sale of the building. Essex procured several competitive offers while marketing the property during the holiday season. The property was under contract within 30 days of the initial marketing campaign and closed within 60 days thereafter.

The Buyer, a local property management and investment company, was also represented by Joe Scheck and Steve Livaditis.

The sale price was approximately $1,702,500.

The price per unit was approximately $212,813/unit which represents the highest price per unit achieved for a vintage apartment building sale in Albany Park.