ReJournals | Illinois Multifamily

Wicker Park apartment building trades hands for first time in 30 years

November 29, 2021

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. brokered the $1.7 million sale of 1265 N. Wolcott Avenue, a six-unit multifamily property located in Chicago’s vibrant Wicker Park neighborhood.

Essex Principal Steve Livaditis and Director Jacob Goldstein were retained to exclusively market this property for sale on behalf of a local investor. The Essex team completed an extensive marketing campaign resulting in more than 8 property tours. After receiving multiple offers the property was under contract after approximately four weeks of marketing. A local investor purchased the property for $1,700,000.

“It was a pleasure representing the seller, a repeat client of ours, and I congratulate everyone involved in this recent sale,” said Goldstein. He continued, “This is an extremely low-density pocket of Wicker Park and is considered one of the tightest rental markets in Chicago.”

1265 N. Wolcott Avenue is a six-unit apartment building located in the heart of Wicker Park. The property has been under the same ownership for over 30 years and has been meticulously maintained during its tenure. The unit mix is comprised of one- and two-bedroom floorplans. The apartments feature hardwood flooring throughout accompanied by various levels of updates to the kitchens and bathrooms as apartments have turned over throughout the years. Two of the apartments have been tastefully renovated to include stainless steel appliances, granite countertops, and laundry in-unit. The remaining four apartments have been remodeled to include white appliances and laminate countertops.

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Tagged in this post: Steven Livaditis , Jacob Goldstein