Essex Realty Group Facilitates Successful Sale of Two Apartment Buildings in Downers Grove

CHICAGO, IL – Essex Realty Group, LLC, a Chicago-based multifamily brokerage firm, recently facilitated the sale of two apartment buildings in Downers Grove: a six-unit property at 4340 Wilson Avenue and a 10-unit property at 4900-4906 Fairview Avenue. Essex Director Anthony Citriglia represented both the buyers and sellers in both transactions.

The property at 4340 Wilson Avenue comprises five two-bedroom units, one one-bedroom unit, and eleven surface parking spaces.

4900-4906 Fairview Avenue includes nine one-bedroom, one-bathroom units, a 1,000-square-foot office space, and nine surface parking spaces.

“The substantial amount of tours reflect the strong demand for multifamily properties in the DuPage County suburbs,” said Citriglia. “We marketed the buildings both as a portfolio and as individual assets. Ultimately, they were sold separately to two different buyers. Each property was unique and had different investment strategies. 4340 Wilson Avenue is your classic stabilized deal. A solid building, nice looking units, and good rents—while 4900 Fairview Avenue was a true value-add deal. It was more of a heavy lift to get the property stabilized but has tremendous upside for the buyer”

Downers Grove, located just 25 miles west of Chicago, is a highly sought-after suburb known for its vibrant downtown, strong school system, abundant green spaces, and access to major employers. With multiple expressways and commuter rail stations, the village provides convenient connectivity to Chicago and the surrounding suburbs.

Essex Realty Group conducted more than 40 property tours during the marketing process, generating strong interest from prospective investors. Both properties attracted competitive bids, with 4340 Wilson Avenue selling for $950,000 and 4900-4906 Fairview Avenue closing at $1.05 million.