Logan Square Multifamily Building Under Contract After Just 10-Days

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 2809 W. Logan Boulevard, a beautiful Greystone apartment building located in the heart of Chicago’s vibrant Logan Square neighborhood.

The seller, a local investor, hired Essex director Abe Eilian and associate Brian Keegan to exclusively market the property for sale. Within a 10-day timeframe, Essex led an extensive marketing campaign resulting in six written offers. The property ultimately sold within 99% of the original list price for $1,250,000. Keegan represented the buyer, a local investor, in this transaction.

“This property offered investors a rare opportunity to acquire a meticulously maintained and stately Greystone located on one of Logan Boulevard’s most prime blocks,” explained Eilian. He added, “due to the unit sizes and value-add component, we were confident the property would attract both live-in owners and pure investors alike, so we positioned the property with both buyer profiles in mind in order to create maximum competition and net the Seller absolute top dollar for a property that he worked very hard on maintaining for 30 plus years.”

2809 W. Logan Boulevard is located on the south side of Logan Boulevard, just west of California Avenue. This four-unit building is comprised of a mix of one-, two-, and three-bedroom apartment floorplans. The property has been under the same ownership for over 30 years and presents a new owner with multiple value add opportunities.

The property is conveniently located just one-half mile from the California Blue Line CTA Station, and in close proximity to a number of popular bars and restaurants.