Essex Sells DuPage County Townhome Community
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 121-157 Wycliffe Drive in West Chicago, IL.
A multifamily team led by Derek Kaptanoglu and Brian Karmowski of Essex Realty Group, Inc. was hired by the seller to exclusively market the property for sale. Essex led an extensive marketing campaign resulting in the property going under contract after just 11 days on the market. The property sold within 90% of the list price to a local investor for $2,125,000, which equates to $163,462 per unit. Karmowski also represented the buyer.
121-157 Wycliffe Drive is a 13-unit townhome-style community located in the highly coveted DuPage County. The unit mix is comprised of spacious two-and three-bedroom townhomes, all of which also offer a den and a full basement. The property offers a new owner multiple value-add opportunities including making minor aesthetic changes to the 1990s style units and increasing operational efficiencies. With the favorably sized units and demand for housing in this location, a new owner can achieve future upside.