Essex Realty Group, LLC is pleased to announce the sale of Fairchild Commons, a 40-unit multifamily courtyard building located in Chicago’s Rogers Park neighborhood.

The property is ideally situated just one block from the Loyola Red Line station, a short walk to Loyola University’s Lake Shore Campus, and steps from Lake Michigan, providing residents with excellent access to transit, education, and recreation.

Fairchild Commons features a well-balanced unit mix of studios, one-, two-, and three-bedroom apartments. Renovated in 2019, the apartments offer spacious layouts with hardwood and luxury vinyl flooring, quartz countertops, stainless steel appliances, modern bathrooms, and abundant natural light. Many units also include separate dining rooms.

Residents enjoy a beautifully landscaped courtyard, convenient on-site laundry, and secure bike storage. The property also offers significant rental upside through marking select units to current market rents.

Essex conducted a successful marketing campaign which generated strong interest, ultimately resulting in the sale of this well-located asset.

Known for its beaches, vintage apartments, cultural diversity, and Loyola University, Rogers Park is one of Chicago’s most robust lakefront communities. Just ten miles North of Chicago’s Central Business District, Rogers Park has convenient transportation to and from the city including four CTA train stations (Loyola, Morse, Jarvis, & Howard stops); one Metra Train stop at Lunt Avenue; five local bus lines; and the Howard Bus and CTA train terminal which is the starting point for travel throughout the northern suburbs.

Rogers Park, boasting a population of just over 60,000 people, stretches along Lake Michigan between Devon and Howard and runs west to Ridge Avenue. The neighborhood is home to over 130 restaurants and just as many diverse retail offerings along its central corridors and quaint, tree-lined streets. In the last few years, the community has seen significant appreciation in multi-family properties sparked by a rising population of young business professionals and families moving to the area to take advantage of the neighborhood’s rich culture, intimate setting, and attractive housing.

• Attractive Courtyard-Style Building Located in the Heart of Loyola University's Campus
• Within the first week of marketing, Essex procured multiple offers and ultimately sold to a non-contingent purchaser
• Closed at a 5.88% Capitalization Rate
• Renovated in 2019 with modern kitchens, baths, and high-quality finishes
• The building featured one, two, and three-bedroom apartments with extremely spacious floor plans
• Strong rental history, primarily leased to Loyola students
• Continued investor demand for well-located assets in prime rental corridors.