Chicago-based multifamily brokerage firm Essex Realty Group, LLC closed the sale of a five-building, 100-unit multifamily portfolio in Chicago’s Budlong Woods neighborhood.
Essex Principals Steven Livaditis and Matt Feo, along with Managing Director Rick Ofman, facilitated the $18.5 million sale by representing all parties involved in this transaction.
The Berwyn/Campbell properties were held under the same ownership for more than 40 years and offered immediate value-add potential for the new ownership. The property featured expansive two-bedroom, one-bathroom floor plans and included approximately 70 parking spaces.
Budlong Woods continues to attract multifamily investors due to its stable tenant base, proximity to transit, and access to surrounding North Side neighborhoods. The area offers a mix of vintage courtyard buildings and well-maintained rental housing, with consistent demand from renters seeking affordability relative to nearby neighborhoods. As the inventory of value-add opportunities remains limited, assets with clear renovation potential and scale continue to drive competitive bidding and strong pricing dynamics.
