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Essex Realty brokered the sale of 5255 N. Damen Ave., a well-maintained apartment property in Bowmanville on Chicago's North Side

Bowmanville Apartments Trade After Decades of Local Ownership 

Essex Realty Group recently facilitated the sale of 5355 N. Damen Ave., an 11-unit apartment building in Chicago’s Bowmanville neighborhood. 

The seller, a local investor, hired the Essex team of Rick Ofman, Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd to market the property for sale. Essex director Matt Feo represented the buyer, who paid $2,150,000. 

“It was a true pleasure working this deal and helping the seller capitalize on a strong seller’s market to enable him to retire after decades of hard work,” said Ofman. “Investors today are searching for assets that have some meat on the bone but require few major capital improvements, allowing them to focus on simple cosmetic updates, which is exactly what this deal entailed.” 

Feo added, “Bowmanville is surrounded by larger, more well-known neighborhoods like Ravenswood, Andersonville, and Lincoln Square, which helps draw renters into this specific pocket.” 


Inside The Story

Essex Realty Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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