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Chicago & Midwest  + North Side  + Apartments  | 

Essex Realty Brokers Lincoln Park Sale at 5.27% Cap Rate

Chicago-based multifamily brokerage firm Essex Realty Group Inc. recently facilitated the sale of a 27-unit apartment building located in Chicago’s Lincoln Park neighborhood. The property, located at 2500 N. Clybourn Ave., sold for $8,100,000 reflecting a 5.27% cap rate.

2500 N. Clybourn offered investors the opportunity to purchase a newer construction building with oversized apartments, outdoor space, and indoor parking. The sellers hired Jordan Gottlieb and Matt Feo to market the property for sale. Essex’ extensive marketing campaign resulted in a dozen tours and multiple competitive offers.

“Because the property was originally intended for condominiums back in 2008, the apartments are significantly larger than the average multifamily property built today and include outdoor space and garage parking,” said Gottlieb.

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Essex Realty Group

About Paul Bubny

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).

  • ◦Sale/Acquisition
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