Essex Hired To Sell Franklin Park Multifamily Property
Chicago, IL - Essex Realty Group, Inc. is exclusively marketing two adjacent multifamily properties located at 10207-10217 Chestnut Avenue in the west Cook County suburb of Franklin Park. The properties have been meticulously maintained by the same over for over 15 years. Listed at $2,325,000, the subject property offers an investor a value-add opportunity in a great suburban rental community.
“The subject properties are conveniently located just a few miles south of O’Hare airport and about thirteen miles from Chicago offering residents a large number of both suburban and city of Chicago jobs in the nearby area,” explained Essex Director and listing broker Derek Kaptanoglu. He continued, “Furthermore, the properties have been operating above 95% occupancy through COVID-19 emphasizing the demand for well-located suburban living.”
The two buildings are situated on the same parcel located on the south side of Chestnut Avenue, nestled between George Street to the west and Dora Street to the east. Each building is comprised of 12 one-bedroom apartment units. In addition to the two apartment buildings, the parcel also contains 19 exterior parking spaces.
10207-10217 Chestnut Avenue offers a new owner the rare opportunity to acquire immediate scale in Franklin Park, a strong rental community with significant rental upside. Recent capital improvements have been made in the last five years allowing a new owner to focus on adding value by making cosmetic updates to the apartments.
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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