Essex Realty Group Brokers $16.5M Sale of 60-Unit Multifamily Property Across from UChicago
CHICAGO, IL – Essex Realty Group, LLC announced the successful $16.5 million sale of 825 E. 61st Street, a newly constructed 60-unit multifamily property located directly across from the University of Chicago campus at the intersection of Chicago’s Hyde Park and Woodlawn neighborhoods.
Transaction Summary
| Property | 825 E. 61st Street, Chicago, Illinois |
| Neighborhood | Hyde Park / Woodlawn |
| Property Type | Multifamily |
| Unit Count | 60 Units |
| Sale Price | $16,500,000 |
| Representation | Seller and Buyer Representation by Essex Realty Group |
| Transaction Team |
Principal Steven Livaditis Principal Jordan Gottlieb Managing Director Rick Ofman |
Property Overview
Developed in 2023 by prominent Chicago developer Jason Vondrachek of Quest Realty Group, this boutique multifamily property features thoughtfully designed one- and two-bedroom residences with exceptional finishes rarely found in the surrounding submarket.
The property also offers 25 parking spaces, including a heated garage and outdoor parking, as well as oversized private balconies and an impressive array of tenant amenities.
Strong Investor Demand
Essex Realty Group Principal Steven Livaditis exclusively represented the seller in the transaction, while Principal Jordan Gottlieb and Managing Director Rick Ofman represented the buyer.
“We were fortunate to have the opportunity to represent the ownership of this exceptional asset, located within one of the country’s most prestigious academic communities, the University of Chicago. The combination of location, asset quality, and limited supply of comparable properties within this highly sought-after micro-market created a compelling investment opportunity. The market responded accordingly, generating tremendous interest from national, regional, and local investors within the first few days of marketing and ultimately resulting in the property going under contract within the first week,” said Steven Livaditis.
Prime Hyde Park and Woodlawn Location
Located directly across from the University of Chicago and just one block from the CTA Green Line, 825 E. 61st Street offers residents convenient access to the University of Chicago Medical Center, Washington Park, the lakefront, and the Obama Presidential Center.
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.