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Essex Realty Group Executes Successful Sale of Cicero Multifamily Building

June 20, 2024

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., announced it has successfully completed the sale of 2123-2125 S. 51st Ct, a 34-unit multifamily building located in Cicero.

The property features 34 meticulously maintained units, recently upgraded with new plumbing and electrical systems. This includes a unit mix of 13 studios and 21 one-bedroom, one-bathroom units. Conveniently located within walking distance of many dining options and just a two-minute walk from the 54th/Cicero CTA Pink Line station.

Additionally, the buyer has the opportunity to raise rents in the property’s current condition, further boosting its investment appeal. The property attracted significant interest, with seven tours and multiple offers.

“51st Court provided an investor with immediate scale in a high rental demand area. The Essex platform yielded significant interest from many local and national buyers, resulting in a sale price exceeding 90% of the list price,” said Brian Karmowski, Managing Director at Essex Realty Group, Inc.

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