Essex Realty Group Facilitates $4.54 Million Ravenswood Multifamily Transaction

CHICAGO, ILLINOIS — Essex Realty Group, LLC is pleased to announce the Ravenswood 18-unit apartment sale of 4534.5–4538 North Wolcott Avenue, a well-maintained vintage multifamily property located in Chicago’s Ravenswood neighborhood. The asset sold for $4,537,000 in an off-market transaction.

Property Overview: 18-Unit Half-Courtyard Multifamily Asset

The half-courtyard property features a balanced unit mix of nine one-bedroom, one-bathroom apartments and nine two-bedroom, one-bathroom apartments.

The well-maintained vintage building includes white appliances, laminate countertops, hardwood floors, radiator heat, and coin-operated laundry. The asset presents a clear value-add opportunity in a highly sought-after North Side location, offering investors long-term upside potential.

Strategic Off-Market Transaction Execution

The transaction was facilitated by Essex Realty Group Principals Matt Feo and Steve Livaditis, who represented the seller. Principal Steve Livaditis also represented the buyer.

“In a neighborhood where assets like this rarely trade hands, it was crucial for us to price and market this listing to buyers focused on long-term control of high-quality inventory rather than immediate yield. By doing so, we created a competitive environment that resulted in offers exceeding the asking price,” said Matt Feo.

Ravenswood Location Supporting Long-Term Demand

Located in Ravenswood on Chicago’s North Side, the property benefits from a strong residential setting defined by tree-lined streets and proximity to neighborhood retail and dining corridors.

The area offers convenient access to the Brown Line, Metra rail service, and major thoroughfares, supporting consistent rental demand and long-term investment stability.

Work With Chicago Multifamily Brokers

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Since 1990, Essex Realty Group, LLC has served Chicago’s investment real estate market as a top multifamily brokerage firm, specializing in Chicago multifamily for sale properties. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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