ReJournals | Illinois Multifamily

Essex sells Bucktown multifamily building over list price

April 11, 2022

Essex Realty Group, Inc. recently facilitated the sale of 1919 W. Armitage Avenue, a six-unit multifamily building located in Chicago’s vibrant Bucktown neighborhood.

A multifamily team comprised of Matt Feo, Abe Eilian and Brian Keegan of Essex Realty Group, Inc. was hired by the seller to exclusively market the Armitage property for sale. Within a 10-day timeframe, the Essex team led an extensive marketing campaign resulting in multiple offers. The property sold $51,000 over list price for $1,600,000. Feo represented the buyer, a local investor, in this transaction.

The building is situated on the south side of Armitage Avenue, just steps from a major Bucktown retail corridor on Damen Avenue. The unit mix is comprised of all one-bedroom floorplans. The units have been renovated to include quartz countertops and stainless-steel appliances in the kitchens, plus hardwood floors throughout, central heat and air conditioning and washer/dryer in-unit. There are also three exterior parking spaces.

The property benefits from its central location in Bucktown, in close proximity to public transportation, the Bloomingdale 606 Train, and all the boutiques, bars and restaurants Bucktown has to offer. 1919 W. Armitage presented an opportunity for an investor to acquire a recently renovated, low-maintenance and stabilized asset in one of the most thriving neighborhoods in Chicago.

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Tagged in this post: Abe Eilian , Brian Keegan , Matt Feo