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Essex Realty Closes Sale of Humboldt Park Six-Flat
Chicago-based multifamily brokerage firm Essex Realty Group recently facilitated the sale of 1358 N. Artesian Ave., a multifamily property in the West Side’s Humboldt Park neighborhood.
The seller, a local investor, hired Essex director Rick Ofman to head the building’s marketing efforts. After an extensive marketing campaign resulting in a dozen property tours and several offers, a local investor purchased the property for $1,280,000.
1358 N. Artesian Ave.is a six-unit multi-family property located on the border of Wicker Park and Humboldt Park. The property is comprised of three two-bedroom/one-bathroom units, two three-bedroom/one-bathroom units and one three-bedroom/two-bathroom unit. All units feature granite countertops, black appliances, hardwood flooring and central heating/air conditioning.
At the time of sale, the rents were $150-250 below market, presenting the new owner the opportunity to bring rents to market and obtain additional income. Essex director Abe Eilian represented the buyer.
- ◦Sale/Acquisition
