Essex Realty Group Executes Successful Sale of Evanston Value-Add Property

CHICAGO, ILLINOIS–  Essex Realty Group, Inc., one of the top Chicago real estate brokerages,  announced it has successfully completed the sale of 1327 W. Brummel St., a 9-unit multifamily building located in Evanston.

The property features eight one-bedroom, one-bathroom units, and a spacious duplexed-down three-bedroom, one-bathroom unit. Additionally, it includes a large adjacent parking lot with twelve spaces. Multifamily brokers – Essex Director Abe Eilian and Managing Director Matt Feo represented the seller, while Essex Principal Kate Varde represented the buyer.

The property garnered significant interest with 18 buying groups touring the property and 4 offers.

“Evanston is a low velocity market in the multi-family space, so there aren’t many opportunities for investors to acquire units. This property was well-maintained by the current owner and had additional upside for a new owner to capture, so we were confident we’d be able to create a competitive bidding environment and ultimately achieve top-dollar for the Seller,” said Abe Eilian, Essex Realty Group Director.