Essex Realty Group Announces $2.6MM Sale of Multifamily Properties in Lincoln Square

Chicago Multifamily Transaction Overview

Property Highlights: 5452-5454 N. Campbell Ave. and 5428-30 N. Campbell Ave

Essex Realty Group, Inc., one of the top real estate brokerage firms in Chicago, announced the sale of two multifamily properties located on Campbell Avenue.

Unit Mix and Renovations

Located in Chicago’s Lincoln Square neighborhood: the buildings included a 7-unit walkup building at 5452-5454 N. Campbell Ave., and an 8-unit center entrance building at 5428-30 N. Campbell Ave.

Brought to the market by Essex Realty Group Director,Rick Ofman, Principal Kate Varde, and Principal Doug Imber, both properties offered value-add opportunities with fully occupied positions.

Neighborhood Appeal for Investors

Located in Budlong Woods, a pocket of Chicago’s popular Lincoln Square neighborhood, both properties provide residents and visitors with a cross between a diverse city district and a welcoming, residential neighborhood. The properties attracted considerable interest during the property tour phase and ultimately sold for a combined total of $2,600,000.

Essex Realty Group’s Role in the Transaction

“As we are seeing in many northside locations, this neighborhood is experiencing dramatic increases in rental rates. The majority of the building systems had already been improved, as a result, the new owners plan to make cosmetic upgrades to capture the rental upside,” said Rick Ofman, Director at Essex Realty Group, Inc.

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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