Essex Realty Group Brokers Sale of 12-Unit Multifamily Property in Tinley Park
CHICAGO, IL – Essex Realty Group, LLC announced the sale of 17114 71st Avenue, a 12-unit multifamily property in Tinley Park, Illinois, for $1,515,000.
Transaction Summary
| Property | 17114 71st Avenue, Tinley Park, Illinois |
| Neighborhood | Tinley Park |
| Property Type | Multifamily |
| Unit Count | 12 Units |
| Sale Price | $1,515,000 |
| Representation | Representation by Essex Realty Group |
| Transaction Team | Director Jimmy Donahue |
Property Overview
The property consists of ten two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units.
Two units have been fully renovated, while the remaining ten are in standard condition, presenting the buyer with a clear value-add opportunity through renovations and strategic operational upgrades.
Value-Add Opportunity in Tinley Park
The property had been owned by the same seller since 2001 and was acquired by an out-of-state investor with a growing portfolio in the Chicago area.
With in-place rents substantially below market, the new owner plans to renovate the remaining units and move rents toward market levels. The combination of stable in-place cash flow and clear upside made the asset an attractive fit for a buyer looking to expand its Chicago-area footprint.
Broker Representation
Director Jimmy Donahue of Essex Realty Group represented the parties in the transaction.
“This transaction highlights the strong investor appetite we’re seeing for value-add multifamily assets in Chicago’s suburban markets,” said Jimmy Donahue, Director at Essex Realty Group. “With rents well below market, this property gave the buyer a clear roadmap to drive returns, and we were glad to help facilitate a smooth transaction for both parties.”
Continued Demand for Value-Add Multifamily in Chicago’s Suburbs
The transaction highlights continued investor demand for value-add multifamily opportunities in Chicago’s suburban markets, particularly properties with a clear path to improving unit quality and increasing rental income.
For investors, properties with stable in-place cash flow and below-market rents can provide an opportunity to create additional value through strategic renovations and operational improvements.
Work With Essex Realty Group
Essex Realty Group specializes in the sale of multifamily properties and investment real estate throughout Chicago and the surrounding suburbs. Our team provides market expertise, strategic marketing, and transaction advisory services for apartment owners and investors.
To discuss the value of your multifamily property or learn more about current investment opportunities in the Chicago area, contact Essex Realty Group.
About Essex Realty Group
Essex Realty Group, LLC is a Chicago-based commercial real estate brokerage specializing in multifamily investment sales. The firm provides advisory and transaction services for apartment buildings, mixed-use properties, and multifamily portfolios throughout Chicago and the surrounding suburbs. Essex Realty Group combines market expertise, proprietary research, and a relationship-driven approach to help investors maximize value and successfully execute their real estate objectives.<