Essex Brokers Facilitate Sale of Bucktown Value-Add Property

December 06, 2021

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 1402 N. Maplewood Avenue.

The seller, a local investor, hired the Essex team of Jim Darrow, Jordan Gottlieb and Sarah Rider to exclusively market the property for sale. After an extensive marketing campaign resulting in more than 20 property tours and five offers, a local investor purchased the property for $1,100,000.

1402 N. Maplewood Avenue is a beautiful six-unit greystone apartment building located in Chicago’s West Bucktown/Humboldt Park neighborhood. The unit mix is comprised of four 2 bed/1 bath apartments and two 3 bed/1bath apartments. Of the six units, three were recently updated with stainless steel appliances, modern cabinetry, granite countertops, renovated bathrooms and washer/dryer in-unit. The property presented multiple value-add strategies including a proven strategy for updating the remaining units and raising rents to capture rental upside.

The property is ideally located less than one mile from the Damen and Western Blue Line CTA stations.

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

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