Local Investor Snaps Up Evanston Multifamily Property

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1019 Dempster Street, a center-entrance 6-unit multifamily building located in Evanston, IL.

A local investor hired the Essex team comprised of principals Jim Darrow and Jordan Gottlieb and associate Sarah Rider to exclusively market the property for sale. Within a four-week timeframe, Essex led an extensive marketing campaign resulting in more than 20 property tours and multiple offers to purchase the property. The property sold within 98% of the list price to a local investor for $1,275,000, or $212,500 per unit. Essex director Matt Feo represented the buyer in this transaction.

1019 Dempster Street is situated just off the southeast corner of Dempster Street and Oak Avenue and is conveniently located only 4 blocks to the city’s downtown area. The property is comprised of six spacious three-bedroom apartment units. The property presented multiple value-add opportunities to a new owner.