Essex Realty Group, LLC brokered the sale of a 40-unit apartment building at 6565-6589 N. Lakewood Ave. in the Loyola University pocket of Chicago’s Rogers Park neighborhood.
The transaction was led by Essex Principal Steven Livaditis and Managing Director Matt Feo, who represented the seller, while Essex Managing Director Rick Ofman represented the buyer.
After being marketed by several other firms, the Essex platform quickly generated strong interest by targeting strategic buyers who specialized in the student housing market. As a result, the property went under contract within just one week of being listed.
This 40-unit classic courtyard apartment building features a well-balanced mix of one, two, and three-bedroom units with open floor plans and spacious living areas. Additionally, there is a lower-level studio unit. Renovated in 2019, the apartments offer modernized kitchens and bathrooms, a combination of hardwood and luxury vinyl flooring, and classic fixtures throughout. Residents enjoy a beautifully landscaped courtyard, convenient on-site laundry facilities, and secure bike storage.
This transaction emphasizes the ongoing interest from investors in well-located, stabilized multifamily properties in strong-performing submarkets. With a solid rental history, mainly students from Loyola University, Rogers Park is an attractive area for both renters and investors. Its appeal lies in excellent transit access, cultural diversity, proximity to higher education institutions, and a vibrant community atmosphere.
The property is ideally positioned just one block from the Loyola Red Line station, a five-minute walk to Loyola University’s Lake Shore Campus, and mere steps from Lake Michigan’s lakefront and beaches. Rogers Park continues to benefit from a stable and growing renter base, driven by its proximity to transit, educational institutions, and thriving local businesses.
