Essex Realty Group, Inc. recently facilitated the sale of 6517-6523 N. Newgard Ave., a 24-unit multifamily property located in Chicago’s Rogers Park neighborhood.
Rick Ofman led Essex’ efforts, generating nearly a dozen tours and several offers in just one week. The property sold to a local investor for $4,000,000, a sale price reflecting a 5.25% cap rate and 11.40 GRM.
The property, a vintage courtyard-style building, consists of 12 one-bedroom and 12 two-bedroom units.
Essex Principals Doug Imber and Kate Varde represented the buyer, a local 1031 investor.
