Essex Realty Group Secures Premium Price Per Unit in Lakeview Sale

CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Realty Group, Inc., announced the sale of 3507-3509 N. Wilton Ave., an 8-unit center entrance building located in Chicago’s popular Lakeview neighborhood.

The property was gut renovated in 2013 and consists of 7 three bedroom/ two bathroom and 1 two bedroom/ two bathroom units. Each unit includes upscale designer finishes,featuring stainless steel appliances, quartz countertops, and contemporary white hardwood kitchen cabinets.

Positioned just one block from Wrigley field, home of the Chicago Cubs, 3507 N. Wilton Ave. offers unparalleled access to transportation hubs such as the Addison Red Line “L” Station. Additionally, easy access to the CTA Brown, Purple, and Blue Line trains, the UP-NW Metra Line, and the 90/94 Expressway, alongside multiple nearby bus stops, ensures effortless commuting options for tenants.

During the marketing phase, 3507 N. Wilton generated significant interest from prospective buyers. The property ultimately received multiple offers and closed at an impressive $624,375 per unit. “Multifamily deals delivering cash-on-cash returns above 8% on day 1 are typically not found anywhere on Chicago’s North Side, let alone in Lakeview,” said listing broker Rick Ofman. “This sale is a prime example of how asset condition, location, and assumable debt combine to drive market pricing.”