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Essex Markets Courtyard Buildings in Oak Park
Essex Realty Group has just listed 91 units in two rarely-available vintage courtyard buildings in Oak Park, IL. The same ownership has held the properties, located at 100-112 S. Harvey Ave. and 803-805 Randolph St., for over 30 years.
“This is a rare, physical and management value-add opportunity in a vibrant downtown location of Oak Park, and the buildings can be purchased individually or as a portfolio,” said Essex principal Doug Fisher, who is handling the sale along with principal Kate Varde.
Between them, the two properties have 87 units in a mix of studios, one-bedrooms and two-bedrooms. Varde cited multiple investment strategies that the properties would support.
“Correcting the temporary vacancy problem and leasing apartments at market rates would significantly drive net income,” she said. “Likewise, a new owner could choose to renovate the units by enhancing kitchen finishes and adding building amenities to further increase net incomes.”
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- ◦Sale/Acquisition
