Chicago-based multifamily brokerage firm Essex Realty Group, LLC closed the sale of 2038-2048 West Touhy Avenue, a 33-unit apartment building in Chicago’s Rogers Park neighborhood. The property sold for $5,920,000.
Essex Principals Jim Darrow and Jordan Gottlieb, along with Director Brian Keegan represented the seller in the transaction. Principal Matt Feo represented the buyer.
The property sits on a triangular lot and offers a unit mix primarily composed of two-bedroom apartments, along with studios, one-bedroom, and three-bedroom units. Renovated in 2008 with a condominium-quality scope, the building features individual HVAC, updated electric service and panels, new plumbing, in-unit laundry, and new rear porches. Interiors include hardwood floors, stainless steel appliances, granite countertops with kitchen islands, and tiled bathrooms.
During the marketing process, the property attracted significant investor interest due to its larger unit layouts, strong in-place operations, and quality renovations. The asset’s scale and condo-level finishes provided buyers with a stabilized investment opportunity in one of Chicago’s most established North Side neighborhoods.
Financing for the acquisition was arranged by the Essex Capital Markets team of Directors Asher Motew and Quinn Keenan, who secured a competitive loan through a local bank.
Situated on Touhy Avenue just south of Rogers Avenue, the property is within walking distance of the Rogers Park Metra Station and less than one mile from the Jarvis CTA Red Line station, offering direct access to downtown Chicago and the North Shore. Residents also benefit from proximity to Loyola University Chicago, Loyola Park and beach along Lake Michigan, and neighborhood amenities such as the Glenwood Sunday Market.
