Skokie apartment building under contract one day after listing

Essex Realty Group announced the sale of 7901 N. Keeler Avenue, a 13-unit apartment building located in the North Chicago suburb of Skokie. The property closed at the full asking price of $1,600,000, which equates to $123,077 per unit.

This building, comprising 12 one-bed/one-bath apartments and one two-bed/one-bath apartment, was placed under contract after just one day on the market and closed within two months of the list date. The buyer, a local investor, is the same party who originally sold the property to the current seller 15 years ago.

Essex managing director, Brian Kochendorfer, and director, Brian Karmowski, represented the seller in the transaction. Essex director, Anthony Citriglia, represented the buyer.

“This is an incredible deal story. After just one day on the market the buyer submitted an offer at full asking price,” said Kochendorfer. “Due to the excellent quality of the asset, we had already scheduled multiple property tours that we ended up cancelling. Though today’s COVID market is anything but normal, I think the excitement and activity surrounding this property illustrate that there is still investor demand for quality properties.”

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales.