Essex Realty Group Closes Sale of Rogers Park Apartment Building

Essex Realty Group, LLC, announced the sale of 7319 N. Rogers Avenue, a 16-unit walk-up apartment building located in Chicago’s Rogers Park neighborhood, for $2.46 million.

Essex Realty Group Managing Director Rick Ofman represented the seller, while Associate Tim Kavanaugh represented the buyer in the transaction. The property features renovated apartments, supplemental income streams, and additional value-add opportunities.

7319 N. Rogers Avenue consists of sixteen one-bedroom, one-bathroom apartments, 15 of which have been renovated since 2018. This asset offers several opportunities for a new owner to increase income. “With strong in-place cash flow and opportunities for strategic capital improvements, the property offered an attractive combination of current yield and long-term upside,” said Tim Kavanaugh.

Located in Chicago’s Rogers Park neighborhood, the property benefits from convenient access to public transportation, neighborhood retail, and recreational amenities. The property is also near the Clark Street retail corridor, Loyola University Chicago, Touhy Park, and the Lake Michigan shoreline.