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Essex Realty Lists East Albany Park Multifamily

Essex Realty Group, Inc. has been selected to market 3055 W. Eastwood Ave., a 13-unit multifamily property located in Chicago’s East Albany Park neighborhood. The property is currently listed at $2,130,000, a sale price that reflects a 5.52% cap rate and 10.34 GRM. 

The property’s 13 units consist of one- and two-bedroom apartments, all of which have been well-maintained over the years. It has sustained high historical occupancy. 

Steven Livaditis, principal at Essex and the broker leading the sales efforts, said, “This is a phenomenal opportunity for an investor to acquire an extremely well-maintained building in one of the most sought-after northside pockets of the city. The property sits one block from the Metra Brown Line, Ravenswood Manor Park and is within walking distance to retailers and the Chicago River. Additionally, there is a strong value-add play here as the current rents are drastically below the market.” 


Inside The Story

Essex Realty Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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).

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