Essex Realty Group, LLC is pleased to announce the successful sale of 405 Austin Street, a well-maintained 14-unit apartment building in the desirable suburb of Downers Grove.

The property features a diverse unit mix consisting of one (1) studio, nine (9) one-bedroom/one-bathroom units, and four (4) two-bedroom/one-bathroom units. The building is all-electric with electric baseboard heating and individual hot water tanks in each unit.

The buyers were attracted to this opportunity for several key reasons. The property benefitted from close proximity to the Fairview Avenue Metra Station and Downtown Downers Grove, offering excellent walkability and access to transit. The buyers also appreciated the competitive advantage of the assumable loan carrying a 3.31% fixed interest rate, maturing December 31, 2030, which is highly attractive compared to current market rates. Additionally, the property’s well-maintained condition and recent capital improvements, including tuckpointing completed in 2024, lintel updates in 2023, and iron balcony upgrades in 2023, demonstrated the seller’s commitment to preserving the asset. Kitchens and bathrooms throughout the property were updated approximately ten years ago.

405 Austin Street represents a stabilized, well-maintained multifamily asset in one of DuPage County’s strongest rental markets. Essex Realty Group’s targeted marketing approach and established buyer network successfully connected this property with investors who recognized its strategic location, favorable financing terms, and quality-maintained condition.

Downers Grove is located just 25 miles west of Chicago and is one of the most vibrant and thriving villages in DuPage County. Known for its active downtown, natural attractions, community events, and large employer base, Downers Grove is one the premier Chicago suburbs in which to live and work. One of the suburb’s many appealing characteristics include its highly ranked schools. According to Livability.com, Downers Grove is one of the Top 10 Livable Cities for kids and has been recognized by Forbes as one of America’s Friendliest Towns.

Serviced by numerous expressways and commuter rail stations, residents of Downers Grove have direct and convenient access to Chicago as well as neighboring villages of Naperville, Westmont, Lisle, and Hinsdale. In addition, several corporate and regional headquarters are located in Downers Grove including Advocate Aurora Health Care, Dover Corporation, and Pepperidge Farm. These companies employ thousands of local residents and support the suburb’s robust economic base.

• Multiple Tours & Offers
• Prime Location One Block from Fairview Avenue Metra Station and Downtown Downers Grove
• Assumable Loan at 3.31% Fixed, Maturing 12/31/30
• Diverse Unit Mix: One (1) Studio, Nine (9) 1Bd/1Ba, & Four (4) 2Bd/1Ba Units
• Well-Maintained with Recent Capital Improvements – Tuckpointing (2024), Lintel & Iron Balcony Upgrades (2023), Updated Kitchens & Bathrooms