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.”