Essex Brokers facilitate sale of off-market Evanston multifamily property

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1938-40 Jackson Avenue, a five-unit multifamily property located in Evanston, Illinois.

Essex principal Steve Livaditis and director Jacob Goldstein were the brokers in this off-market transaction. The buyer, a local investor, was in a 1031 exchange and purchased the property for $775,000, which equates to $155,000 per unit.

1938-40 Jackson Avenue is comprised of a four-unit apartment building plus one rear coach house unit. The four units in the front are all two-bedroom layouts and the coach house unit is a three-bedroom unit. The units have been well maintained and modestly updated over time. The property sits approximately 0.7 miles west of the Foster purple line CTA Station.

This is the second Evanston multifamily property closed by Essex brokers in the last few weeks as 1019 Dempster Street closed in late February.