Uptown Apartments Change Hands After Four Decades

Essex Realty Group closed the sale of 940 W. Argyle Street, a six-unit multifamily property in the North Side’s Uptown neighborhood. The buyer, a local investor in a 1031 exchange, purchased the property for approximately $1,646,000, or $274,333 per unit.

The team of director Clay Maxfield and associate Mack Quaid represented the seller, a local investor. Essex president Doug Imber, with principal Kate Varde and directors Jaimie Steinher and Dan Shepherd, represented the buyer.

“This property has been meticulously maintained by the same owners for almost 40 years,” said Maxfield. “The proximity to Lake Michigan, the large lot size, and value-add opportunity were just three of the many key attributes of this deal.”

The apartments feature hardwood floors, vintage details, and varying levels of kitchen and bath finishes. The property is located within 0.2 miles of the new Argyle CTA Red Line station.

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