Essex Realty’s Eilian Closes Ukrainian Village Deal

Essex Realty Group recently facilitated the sale of 1041 N. Hermitage Ave., a corner six-unit multifamily property located in the East Ukrainian Village neighborhood on Chicago’s Near West Side. The property sold within 98% of list price to a local investor for $1,220,000, or $203,333 per unit.

The seller, a local investor, hired Essex director Abe Eilian to market the property for sale. Essex led an extensive marketing campaign resulting in 30 property tours and 13 offers. Eilian represented the buyer as well.

1041 N. Hermitage Ave. is located on the southeast corner of Hermitage Avenue and Cortez Street, two blocks south of the Division Street commercial corridor. The apartments feature hardwood flooring throughout accompanied by various levels of updates to the kitchens and bathrooms as apartments have turned over throughout the years. Multiple value-add strategies exist for a new owner.