Essex Realty Group Markets 20-Unit Multifamily Portfolio in Chicago’s West Town

CHICAGO, IL – Essex Realty Group, LLC has been exclusively engaged to market for sale the 20-Unit West Town Portfolio, a rare multifamily investment opportunity comprised of five virtually identical buildings in Chicago’s highly desirable West Town neighborhood. The portfolio features 20 residential apartments, including 15 three-bedroom, two-bathroom units, offering investors a rare opportunity to acquire meaningful scale in a low-density market.

Principal Jim Darrow and Director Abe Eilian exclusively represent the seller in the offering.

Transaction Summary

West Town Multifamily Portfolio Offers Multiple Value-Add Opportunities

The portfolio offers multiple paths to value creation, with current rents approximately 10% below market in their as-is condition. New ownership may pursue cosmetic renovations and add in-unit laundry, potentially supporting rent increases of more than 30%.

The two-bedroom, one-bathroom garden units may also present an opportunity for legalization through Chicago’s ADU Program. Prospective purchasers should independently verify legal unit count and potential paths to legalization.

Operational Efficiencies Across Five Properties

Four of the five buildings are located on the same block, creating operational efficiencies across the portfolio. The virtually identical buildings may also provide opportunities to streamline maintenance, rehabilitation materials, and other property-level operations.

“While we’ve sold portfolios with properties located relatively close to one another in the past, it’s rare to find a portfolio where all of the properties are this close together. It’s even more unusual to have buildings that are virtually identical, creating opportunities for operational efficiencies, from maintenance to rehabilitation materials, and beyond. For an investor, this represents a rare opportunity to achieve scale in a highly desirable, low-density market, while also offering multiple avenues to create additional value across the portfolio,” said Principal Jim Darrow and Director Abe Eilian.

West Town and Ukrainian Village Location

The fifth property is located just several blocks away in a highly desirable pocket of Ukrainian Village. All five properties are within walking distance of the Division CTA Blue Line Station and the Division Street Corridor, providing convenient access to restaurants, bars, retail, and neighborhood amenities.

The portfolio also benefits from its proximity to Fulton Market and the West Loop, providing access to two of Chicago’s major employment centers and important drivers of rental demand.

Broker Representation

Principal Jim Darrow and Director Abe Eilian exclusively represent the seller in the offering.

Work With Essex Realty Group

Essex Realty Group specializes in the sale of multifamily properties and portfolios throughout Chicago and the surrounding suburbs. Our team provides market expertise, strategic marketing, and transaction advisory services to help apartment owners and investors maximize value.

To learn more about the 20-Unit West Town Portfolio or discuss selling a multifamily property or portfolio, 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.