Essex Realty Group, Inc. facilitated the sale of 3508-3516 N. Sacramento Ave., a 15-unit multifamily building located in Chicago’s Avondale neighborhood. The property was originally developed and built in 2014 and is comprised of three adjacent buildings.
A multifamily team comprised of Jordan Gottlieb and Matt Feo of Essex Realty Group, Inc. was hired by the seller to exclusively market the property for sale. Within a four-week timeframe, the Essex team led an extensive marketing campaign resulting in eight offers. The property sold within 99% of the list price to a local investor for $4,525,000. Gottlieb and Essex Principal Jim Darrow represented the buyer.
3508-3516 N. Sacramento Avenue is comprised of a mix of two-and three-bedroom apartments and select units have duplex floorplans. Each unit features hardwood floors, quartz countertops, stainless steel appliances, central heat and air-conditioning, large fireplaces, and in-unit laundry. Most units also include private balconies. Each building has a small semi-private yard and garages that combine for a total of 15 parking spaces. This property presented an investor to the opportunity to acquire a low- maintenance asset in an excellent Avondale location and to increase rents to market levels in the current condition or convert to condominiums.
The property is located less than one-mile from both the Belmont and Addison Blue Line CTA Stations as well as numerous bus stops.
