Essex Realty Group, LLC. is pleased to announce the sale of 7522 W Lawrence Avenue, a 9-unit apartment building located in Harwood Heights, IL. The property consists of one studio, five one-bedroom/one-bath units, and three two-bedroom/one-bath units.

Well-maintained by a long-term owner, the property presented an excellent opportunity for investors. At the time of sale, rents were more than 35% below market, offering significant potential for income growth. By keeping the property in its current condition and adjusting rents to market levels, the buyer could increase the net operating income by over 60%.

7522 W Lawrence Avenue is in a highly desirable location surrounded by a variety of retail options. Residents have convenient access to numerous restaurants, bars, and shops, all within minutes. Additionally, Interstate I-90 and the Harlem Blue Line CTA station are both less than two miles from the property. This sale highlights the continued demand for well-located multifamily assets in the Harwood Heights market.

Located approximately 14 miles northwest of Chicago, Harwood Heights forms an enclave with it’s neighbor Norridge surrounded by the City of Chicago. With its strategic location, Harwood Heights enjoys excellent connectivity. The nearby Kennedy Expressway (I-90) provides convenient access to downtown Chicago and the rest of the metropolitan area. Public transportation options are abundant, with the CTA Blue Line’s Harlem Station within close proximity, offering a seamless commute to the city and beyond. Additionally, the area is served by highly regarded schools, including Pennoyer School District 79 and Union Ridge School District 86.

The Subject Property is situated approximately six miles east of O’Hare International Airport and provides convenient access to northwest Chicago as it sits just a few blocks to the east of city limits. Additionally, the property is located within walking distance to dozens of retail shops, shopping malls, and nationally recognized restaurants.

Whether it’s the easy access to major expressways or the well-regarded schools, Harwood Heights offers a desirable location for those seeking a suburban lifestyle within reach of urban amenities.

• Prime Location: Positioned in Harwood Heights, a Desirable Suburb with Strong Rental Demand, Excellent Amenities, and Close Proximity to Transportation Options
• Substantial Rental Upside: Opportunity to Increase Rental Income by Over 35% by Bringing Current Rents to Market Levels, Boosting Net Operating Income by Over 60%
• Strong Unit Mix: One Studio, Five 1-Bedroom/1-Bath Units, and Three 2-Bedroom/1-Bath Units