Essex Realty Group, LLC announced that Principal Matt Feo and Director Abe Eilian closed the sale of three multifamily properties across Chicago. The properties total 20 units and approximately $9.6 million in transaction volume.
The transactions included 1049 N. Wolcott Avenue in Ukrainian Village, 918 W. Eastwood Avenue in Uptown, and 1620 W. Grand Avenue in West Town. Collectively, the sales highlight continued investor demand for well-located multifamily assets throughout Chicago, ranging from value-add opportunities in established neighborhoods to newly constructed luxury apartment buildings in high-growth submarkets.
1620 W. Grand Avenue is an eight-unit luxury multifamily property in West Town near Fulton Market and the West Loop. The newly constructed asset features condominium-quality residences, private elevator access, rooftop decks, garage parking, and an oversized unit mix designed to meet growing demand for larger-format luxury rentals. The property sold on June 13 for $6,225,000.
1049 N. Wolcott Avenue is a six-unit apartment building located in Ukrainian Village, just steps from the Division Street Corridor and CTA Blue Line Station. The property attracted significant investor interest due to its value-add potential, large unfinished basement, oversized brick garage, and location within Chicago’s ADU pilot area. The building sold for $1,405,000.
918 W. Eastwood Avenue is a six-unit center-entrance walk-up in Uptown. Delivered 100% vacant at closing and approved for the addition of two garden-level units, the property represented a rare repositioning opportunity in one of Chicago’s most vibrant lakefront neighborhoods. Located near Montrose Beach, the Lakefront Trail, and the Lawrence Red Line Station, the asset sold for $1,985,000.
