Essex Tapped To Sell Multifamily Asset In Wicker Park
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been selected to exclusively market 1265 N. Wolcott Avenue in Wicker Park.
1265 N. Wolcott Avenue is a six-unit apartment building located in the heart of Wicker Park. The property has been under the same ownership for over 30 years and has been meticulously maintained during its tenure. The unit mix is comprised of one- and two-bedroom floorplans. The apartments feature hardwood flooring throughout accompanied by various levels of updates to the kitchens and bathrooms as apartments have turned over throughout the years. Two of the apartments have been tastefully renovated to include stainless steel appliances, granite countertops, and laundry in-unit. The remaining four apartments have been remodeled to include white appliances and laminate countertops.
The property benefits from the neighborhood’s low vacancy rates, rising rents, close proximity to public transportation, nightlife, and schools. An investor or owner-user has the rare opportunity to purchase an attractive 6-unit property that the same owner has diligently maintained for 30+ years in one of Chicago’s most vibrant neighborhoods. 1265 N. Wolcott Avenue is currently listed at $1,795,000 by Essex Principal Steve Livaditis and Director Jacob Goldstein.
“This is an extremely low-density pocket of Wicker Park and is considered one of the tightest rental markets in Chicago,” said Goldstein.
In July Essex facilitated the sale of two nearby Wicker Park apartment properties. 2351 W. North Avenue, a seven-unit mixed-use new construction property closed for approximately $4,300,000 and 1320 N. Wicker Park Avenue, a six-unit multifamily property closed for $1,575,000.
Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.
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