Essex Realty Group and Essex Capital Markets Close $7.6 Million Wilson Manor Sale in Albany Park

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC and Essex Capital Markets, LLC are pleased to announce the closing of Wilson Manor, a 33-unit multifamily property located at 3348 W. Wilson Avenue in Chicago’s Albany Park neighborhood. The property sold for $7,600,000.

Transaction Summary

• Transaction Type: Albany Park Apartment Building Sale
• Address: 3348 W. Wilson Avenue, Chicago, Illinois
• Property Name: Wilson Manor
• Neighborhood: Albany Park
• Property Type: Multifamily Apartment Building
• Unit Count: 33 Units
• Sale Price: $7,600,000
• Brokers: Principal Matt Feo, Principal Jordan Gottlieb, and Director Abe Eilian

Property Overview: 33-Unit Apartment Building in Albany Park

Originally renovated in 2008, Wilson Manor features fully updated apartment interiors with granite countertops, hardwood floors, central heating and air conditioning, in-unit laundry, and spacious floor plans throughout.

The property offers a highly desirable unit mix consisting primarily of two-bedroom apartments, complemented by several larger three- and four-bedroom duplex units. Significant capital improvements include copper plumbing, new electrical service, and updated wiring.

The property’s quality renovations, attractive unit mix, and long-term rental upside generated strong investor interest throughout the marketing process.

Broker Representation for the Albany Park Apartment Building Sale

Principal Matt Feo, Principal Jordan Gottlieb, and Director Abe Eilian generated strong interest throughout the marketing process, resulting in a successful sale.

“With more than 30 property tours and over 10 offers, Wilson Manor garnered incredible interest as a North Side courtyard building in great condition with rental upside given the strength of today’s Chicago apartment market,” said Principal Matt Feo.

Financing for the acquisition was arranged by Essex Capital Markets on behalf of the buyer. The financing was facilitated by Director Asher Motew and Director Quinn Keenan, who secured a $6,315,600 rehabilitation loan representing an 80% loan-to-cost structure, featuring a 6.43% interest rate and two years of interest-only payments. The financing process resulted in a new lending relationship and a structure tailored to the sponsor’s acquisition strategy.

“A winning bid does not always look like the highest price,” said Director Asher Motew. “Here, the sponsor’s willingness to think differently about the deal, combined with a financing structure that gave him real leverage, is what put him ahead of the rest of the field.”

Albany Park Multifamily Investment Market

Located just one block from the Kimball CTA Brown Line, Wilson Manor offers residents convenient access to public transportation and downtown Chicago.

Albany Park continues to attract investors due to its diverse housing stock, strong renter demand, neighborhood amenities, and long-term investment fundamentals, making it one of Chicago’s most desirable multifamily investment markets.

Industry Coverage: This transaction was featured by Bisnow, Connect CRE, and Yield PRO.

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About Essex Realty Group, LLC

Essex Realty Group, LLC is a leading Chicago multifamily brokerage firm specializing in apartment building sales throughout the city and surrounding suburbs. Since 1990, the firm has represented private investors, institutions, and property owners in the acquisition and disposition of multifamily investment properties.