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Essex Realty Group Lists 14-Unit Property in Buena Park

March 19, 2024

CHICAGO, ILLINOIS— Essex Realty Group, Inc., a Chicago-based multifamily brokerage firm has been exclusively engaged to market for sale 4356-58 N. Kenmore Avenue. The property, situated in the Buena Park neighborhood on Chicago’s north side, was constructed in 1901 and features 14 apartment units.

Listed by Rick Ofman, Kate Varde, and Doug Imber, the Subject Property is comprised of eleven (11) one-bedroom/one-bath and three (3) two-bedroom/one-bath. The units feature white or stainless-steel appliances, a mix of countertops, new or refinished hardwood floors, and radiator heat. The building also offers eight gated parking spaces available to tenants as a fee-based amenity.

“4356 N. Kenmore is a terrific opportunity for investors to acquire a building with considerable operational upside,” said Ofman. “The current owner chose to prioritize occupancy and low turnover, resulting in rents that are 10-20% below market rate. A new operator will be able to capture that upside without having to undergo costly renovations.”

Situated roughly six miles north of Chicago’s Central Business District, Buena Park offers residents a charming community of tree-lined streets. Buena Park is mostly residential containing six-flats, single-family homes, and courtyard apartment buildings. 4356 N. Kenmore Ave. is located 0.1 miles from the Wilson Red and Purple Line station, providing tenants easy access throughout Chicagoland. The property is also located only 0.5 miles from Lake Michigan, and Wrigley Field.

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