Essex Realty Group, Inc. is pleased to announce the sale of the Logan Square Portfolio, a seven-property portfolio, in the highly sought-after neighborhood of Logan Square. The 19-unit portfolio presented the opportunity to acquire immediate scale with all seven (7) properties located within 4 minutes (or less) of each other. The portfolio boasts an attractive unit mix of spacious 1-Bed, 2-Bed and 3-Bed units, all of which have received extensive updates. Investors were attracted to the excellent in-place cash flow and various value-add opportunities, which yielded a high cap rate for the area. Through a robust marketing campaign, Essex successfully generated 21 tours and garnered 6 offers.
The Logan Square neighborhood is located three miles northwest of Chicago’s Central Business District. Known for its historical architecture, wide residential boulevards, and thriving restaurants and bar scene. Logan Square is regularly regarded as one of Chicago’s most sought after apartment rental neighborhoods.
North Milwaukee Avenue represents the main commercial corridor, featuring a variety of trendy restaurants, cocktail bars, and craft brew pubs. The area boasts bohemian coffee shops, art galleries, and well-known music venues such as the Concord Music Hall. The community is also home to a number of the Congress and Logan Theaters, both located along Milwaukee Avenue.
- Essex Successfully Generated 21 Tours & 6 Offers
- 15 Apartments + 4 Additional Non-Conforming Apartments
- All Properties Within 4 Minutes (or less) of Each Other
- A+ Logan Square Locations Near 606, Blue Line, Restaurants & Night Life
- All 19 Apartments Extensively Remodeled
- Excellent In-Place Cash Flow with Value-Add Opportunities