Essex Realty Group Facilitates Sale of 37-Unit Courtyard Apartment Building in Ravenswood

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, LLC announced the sale of 4501-4509 N. Greenview Avenue, a 37-unit courtyard apartment building located in Chicago’s sought-after Ravenswood neighborhood. The transaction was completed by the team of Essex Principals Doug Imber and Kate Varde, along with Essex Managing Director Rick Ofman.

The vintage courtyard building is comprised of six studios and 31 one-bedroom apartments

According to Imber, “Given the desirability of the Ravenswood market, properties are held for longer than in many other sub-markets, making this such a unique opportunity. Additionally, the transaction was more involved in that the seller was lining up a forward 1031 exchange, and the purchaser was pursuing a reverse 1031 exchange.”

4501-4509 N. Greenview Ave. is located on the Northeast corner of N. Greenview Ave. and W. Sunnyside Ave., just off North Clark Street, a major business hub. Residents enjoy easy access to the Brown Line, Metra (Ravenswood station), and major bus routes, making commuting downtown a breeze.