Essex Realty Group facilitated the sale of two Logan Square apartment buildings located at 3334 W. Palmer Street and 3049 N. Spaulding Avenue in Chicago. Jim Darrow, Jordan Gottlieb and Jordan Multack were the sole brokers of both buildings, which sold for a combined $5,300,000.
Local Chicago investor group Breneman Investments purchased 3334 West Palmer for $2,650,000 to add to its existing Logan Square portfolio.
“It has been incredible to watch the growth of Chicago’s Logan Square neighborhood over the last decade. For example, our client purchased 3334 West Palmer back in 2010 for $615,000. Closing a sale of this property 10 years later for $2,650,000 is a direct reflection of the tremendous growth the neighborhood has seen. Congrats to all parties involved,” said Multack.
Another example of Logan Square’s explosive growth is 3049 North Spaulding which the sellers purchased in mid-2018 for approximately $2,100,000. Roughly 16 months later, it sold for $2,650,000 to a private investment group planning to renovate the apartments to take full advantage of the spacious layouts and proximity to public transportation.
