Essex Represents Both Buyer & Seller on $1.8M East Rogers Park Sale
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 6500-04 N. Bosworth Ave, a multi-family property located in Chicago’s East Rogers Park neighborhood.
A local investor hired Jacob Goldstein and Steven Livaditis to exclusively market the property for sale. Within less than 30 days, Essex lead an extensive marketing campaign resulting in nearly two dozen tours and multiple offers. The property ultimately sold to a local investor for $1,830,000, a sale price reflecting a 5.72% cap rate and 10.42 GRM.
The property, an attractive red brick parcel, consists of 12-units comprised of one-bedroom and two-bedroom layouts. “This was an excellent acquisition for a new owner to capture an additional 25% in rental income by bringing the current rents up to market, and potentially adding additional bedrooms to at least six of the one-bedroom units,” said Goldstein, the broker heading the sale. The units featured family rooms, separate formal dining rooms, and sunrooms, giving a new owner ample space to add a bedroom without compromising the spacious and bright layouts.
Goldstein and Livaditis also represented the buyer, STAK Holdings and Sam Trachtman, their representative.
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