Corner Multifamily Draws Strong Investor Interest in West Ridge
Essex Realty Group recently facilitated the sale of 2453-2457 W. Fargo Ave. a corner 13-unit multifamily property in the Far North Side’s West Ridge neighborhood. The property ultimately sold for $30,000 over the original list price at $1,675,000.
The seller, a local investor, hired Essex directors Abe Eilian and Matt Feo to market the property for sale. Within three weeks, Essex led an extensive marketing campaign resulting in 22 property tours and multiple offers. Essex principal Steve Livaditis and director Jacob Goldstein represented the buyer, a local investor.
“The activity and interest that this property generated is just another indicator of how strong the appetite is for West Ridge and the stability it offers to investors,” said Eilian.
Added Feo, “Pricing a listing correctly is the best way to create momentum in the marketing process; leading to more showings, offers, competition amongst buyers, and ultimately better overall pricing and terms.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).