Essex Tapped To Sell Multifamily Asset In Ukrainian Village
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been selected to exclusively market 1041 N. Hermitage Avenue, a corner six-unit multifamily property located in a prime pocket of Chicago’s East Ukrainian Village neighborhood.
1041 N. Hermitage Avenue is located on the southeast corner of Hermitage Avenue and Cortez Street, just two blocks south of the vibrant Division Street commercial corridor. The property is comprised of six apartment units, a mix of one- and two-bedroom units. The property has been under the same ownership for over 30 years and has been well maintained during its tenure. The apartments feature hardwood flooring throughout accompanied by various levels of updates to the kitchens and bathrooms as apartments have turned over throughout the years. Multiple value-add strategies exist for a new owner.
The property benefits from the neighborhood’s low vacancy rates, rising rents, close proximity to public transportation, nightlife, and restaurant scene. An investor or owner-user has the rare opportunity to purchase an attractive corner six-unit property that the same owner has diligently maintained for 30+ years in one of Chicago’s most vibrant neighborhoods. 1041 N. Hermitage is currently listed at $1,250,000 by Essex Director Abe Eilian.
Chicago’s West Town-area submarkets are active. Since June 2021, Essex brokers also recently closed 1547 W. Walton Street, a four-unit apartment building in Noble Square, 2000 W. Armitage Avenue, a redevelopment property in Bucktown, and 1010 N. Wood Street, a five-unit apartment building in Ukrainian Village.
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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