Essex sells $6.8 million Oak Park multifamily building

Essex Realty Group, Inc. recently facilitated the sale of 1116 Washington Boulevard, a 55-unit courtyard building located in the vibrant Cook County suburb of Oak Park.

A multifamily team comprised of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd, and Rick Ofman of Essex Realty Group, Inc. was hired by the seller to exclusively market the Washington property for sale. The property sold to a local investor for $6,825,000. Imber, Varde, Steinher, Shepherd and Ofman also represented the buyer.

The property is located on the north side of Washington Boulevard, just east of Harlem Avenue. The unit mix is comprised of studio, one- and two-bedroom floorplans. Renovated between 2015 and 2016, the apartments have hardwood flooring, stainless steel appliances, granite countertops, espresso kitchen cabinets and new bathroom vanities. Laundry facilities are located on-site. The property is conveniently located approximately 0.18 miles south of the Harlem/Lake Green line CTA Station and Oak Park UP-W Metra Station providing quick and easy access to downtown Chicago.

Located on a tree-lined street, the property benefits from close proximity to public transportation and recent interior renovations and exterior capital improvements. 1116 Washington Boulevard presented a rare opportunity to purchase a beautiful courtyard building in one of Chicago’s most popular suburbs.