Essex Team Lists $5.25M Red Brick Courtyard Building in Prime Rogers Park Location

August 18, 2022

Essex Realty Group, Inc. has been selected to exclusively market for sale 7381 North Damen Avenue, a vintage 32-unit multi-family courtyard property located in Chicago’s Rogers Park neighborhood. The building is comprised of one-, two- and three-bedroom layouts and are finished with white or stainless-steel appliances, laminate counters, hardwood floors, and radiator heat.

The property provides investors with the opportunity to acquire a well-maintained apartment building at a price that reflects a 10.25 GRM, and with as-is rents between $100 to $200 below market. According to Essex President, Doug Imber, “Over the past 20 years, Rogers Park has experienced a 4.0% average annual compounding rate of appreciation. And 7381 Damen is situated in one of the neighborhood pockets most positioned for growth.”

The property is located on a quiet tree lined street within 0.1 miles of Pottawatomie Park, and within walking distance to numerous businesses and restaurants. The Howard L station is less than one mile away, and there are numerous bus lines within a short walk, allowing tenants for quick and convenient access to Downtown Chicago, or the northern suburbs of the city.

The property is offered for sale at $5,250,000 by the Essex team of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd, and Rick Ofman.