Essex Realty Group, Inc. is proud to announce the sale of 1101 N. Avers. Ave., a 12-unit building in Chicago’s Humboldt Park neighborhood. Within the first 30 days of marketing, Essex procured over 17 property tours which resulted in multiple offers to purchase. The property ultimately sold at 91% of list price.
In 2014, Redfin listed Humboldt Park as one of the top ten neighborhoods in the country with the median home sales price up 62% year over year. The growing attention to this neighborhood can be attributed to the steady rise in property values, development activity in the neighborhood, and surrounding areas such as Logan Square, West Town, and Wicker Park.
Humboldt Park houses a surprising array of retail, dining, and nightlife options. Popular nightlife and dining spots include Haywood Tavern, Rootstock Wine & Beer Bar, California Clipper, and Archie’s.
The subject property is located just a mile and a half south from the beginning access point to the 606/Bloomingdale Trail. The 606 Trail is a 2.7-mile-long path that runs from 1801 North Ridgeway Avenue in Humboldt Park to 1722 North Ashland Avenue in Bucktown. The $95 million project was completed in May of 2015 and had received wide support from several public and private organizations. The trail has been a crucial point toward gentrification of the westside neighborhoods and will continue to spur growth and development in Humboldt Park.
Bus lines that are easily accessible to the subject property include the #70 Division bus, the #65 Grand bus, and the #53 Pulaski bus allowing residents an easy commute throughout the Chicagoland area.
- Humboldt Park Location - Designated Opportunity Zone
- 17+ Tours in 30 Days
- Multiple Written Offers
- Competitive Bidding Process
- Spacious 1 Bed / 1 Bath Layouts
- Easy Opportunity to Convert All Units to 2 Bed / 1 Bath Apartments
- Current Rents were Significantly Below Market