Logan Square Apartments Sell in Less Than 12 Weeks

Essex Realty Group closed the sale of 2313 N. Albany Ave., a nine-unit multifamily property in the North Side’s Logan Square neighborhood. The buyer, a local investor, purchased the property for approximately $1,610,000.

Principals Jim Darrow and Jordan Gottlieb were the brokers on the transaction, representing the property’s longtime owners. After receiving 12 competitive offers, the property went under contract after just two weeks of marketing and closed eight weeks later.

“Investors were drawn to this opportunity because of the great location and ideal value-add opportunity the property presented,” said Gottlieb. “The building is in great shape due to dedicated long term family ownership, but also allows for a new investor to further modernize the property.”

The property is situated just three blocks north of popular Palmer Square Park, and is conveniently located a half mile from both the Logan and California Blue line L stops.

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.