Chicago-based multifamily brokerage firm Essex Realty Group, Inc., and Essex Capital Markets closed the sale of 2934 N. Milwaukee Ave., an 18-unit mixed-use property in Chicago’s Avondale neighborhood.
The property features 13 apartment units and 5 commercial units anchored by a newly executed 15-year lease with JPMorgan Chase.
Brokers Jordan Gottlieb and Matt Feo generated significant interest in the property during the marketing phase, resulting in over 20 property tours with prospective buyers and several offers.
Financing for 2934 North Milwaukee Avenue was secured by the Essex Capital Markets team of Darragh Griffin and Quinn Keenan on behalf of the buyer. The financing package is comprised of a $4.2 million, seven-year loan from a regional lender, featuring a fixed interest rate swap of 6.14%.
The property sits at the edge of Chicago’s growing Logan Square and Avondale neighborhoods, with prime access to transportation, including nearby CTA Blue Line stations, bus stops, and the Kennedy Expressway, offering tenants seamless city connectivity.
