Essex Realty Group, Inc. Announces Sale of 45-Unit Multifamily Building in Rogers Park

October 25, 2024

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., announced the successful sale of 1414 West Pratt Blvd. a vintage multifamily building located in Chicago’s popular Rogers Park neighborhood.

The property consists of 45 units, featuring a mix of 1 studio, 39 one bedroom/one bathroom apartments, and 5 two bedroom/ one bathroom apartments.

Situated just 0.2 miles from the Morse Red Line CTA station, 0.5 miles from Lake Michigan, and 0.7 miles from the Rogers Park UP-N Metra Station, the building offers convenient access to both downtown Chicago and the suburbs.

“This sale is the 8th property our team has sold in Rogers Park this year, and this one may have been the best example of market efficiency. We conducted nearly 30 tours on three dates in a two-week period, resulting in numerous competitive offers.” said Director, Rick Ofman.

The transaction was facilitated by Essex Realty Group Principals Doug Imber and Kate Varde, alongside Director Rick Ofman, and Managing Director Matt Feo.

During the marketing phase, 1414 W. Pratt Blvd. attracted strong interest, hosting over 28 tours with prospective buyers. The high level of engagement resulted in multiple offers, culminating in a final sale price of $3,825,000.

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

If you enjoyed this content and would like to stay in the loop, please consider following us on LinkedIn and Instagram! If you’d like to talk with one of our agents on buying a property in the city of Chicago or the surrounding areas, please don’t hesitate to reach out and contact us. Thank you for reading!

Tagged in this post: Doug Imber , Kate Varde , Rick Ofman , Matt Feo