Essex Sells Third Rogers Park Apartment Building In Two Months

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1637-1641 W. Estes Avenue in East Rogers Park.

A multifamily team led by Steven Livaditis and Jacob Goldstein of Essex Realty Group, Inc. was hired by the seller to exclusively market the property for sale. Within a 20-day timeframe, Essex led an extensive marketing campaign resulting in more than 13 tours and five offers. The property sold within 97% of the list price to a local investor for $2,430,000, which equates to $127,894 per unit. Livaditis and Goldstein also represented the buyer.

1637-1641 W. Estes Avenue is a beautiful 19-unit “L” shaped walk-up multifamily apartment building located in Chicago’s East Rogers Park neighborhood. The unit mix is comprised of spacious one-bedroom apartments with four unique floorplans. The property offers a new owner multiple value-add opportunities including potentially converting the dining rooms in select floorplans into a second bedroom. With the favorably sized units and an unprecedented demand for housing in this East Rogers Park location, a new owner can achieve tremendous future upside.

1637-1641 E. Estes Avenue marks the third Rogers Park area apartment building that the Essex team has sold over the last two months. 1426 W. Jonquil Terrace and 1649 W. Jonquil Terrace also recently traded hands.