Essex brokers $3.85 million deal for Rogers Park apartment building

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1649 W. Jonquil Terrace in Chicago’s Rogers Park neighborhood. This 36-unit courtyard building is comprised of a mix of studio and two-bedroom apartment units, along with 2,000 SF of ground level commercial space which has been occupied by “Just Harvest”, a nonprofit organization and neighborhood ally.

Essex Director Matt Feo represented the seller, a local investor, in this off-market transaction. The property sold to a local investor, Becovic, for $3,850,000, which equates to $106,944 per unit. Feo also represented the buyer in this transaction.

“We love the north of Howard area of Rogers Park,” said Sal Becovic. President at Becovic. “We are excited to add The Jonquil Terrace to our other north of Howard communities.”

The property is situated in a great location less than one-half mile west of Rogers Park Beach and Lake Michigan on the southeast corner of Jonquil Terrace and Paulina Street. The Howard Red, Purple and Yellow CTA station is conveniently located just one block south of the property.

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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