Connect CRE Chicago

Renovated Wrigleyville Multifamily Fetches $518K+ Per Unit

February 14, 2022

Essex Realty Group recently facilitated the sale of 1201 W. Addison St., a 12-unit multifamily property in the North Side’s Wrigleyville neighborhood. The property sold within 97% of the original price to a local investor for $6,225,000, or $518,750 per unit.

A multifamily team of Essex principals Jim Darrow and Jordan Gottlieb and associate Sarah Rider marketed the property for sale. Essex director Abe Eilian represented the buyer.

“The high-price per unit reflects how the sellers went above and beyond your typical renovation for the neighborhood,” said Darrow. “The buyer, after seeing other buildings, appreciated the quality of the seller’s work, along with the opportunity to own a trophy building one block from Wrigley Field.”

Completely renovated in 2017, the apartments include quartz countertops, two-tone kitchen cabinets, stainless steel appliances and custom tile backsplashes in the kitchens. They also include hardwood floors, individual HVAC, washer/dryer in-unit and individual back decks.

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Tagged in this post: Jim Darrow , Jordan Gottlieb , Abe Eilian