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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.
- ◦Sale/Acquisition

