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Multifamily brokerage firm Essex Realty Group recently facilitated the sale of 6928 N. Wayne Ave. in Chicago’s Rogers Park neighborhood

Essex Realty Makes Quick Work of Rogers Park Multifamily Sale

Chicago-based multifamily brokerage firm Essex Realty Group recently facilitated the sale of 6928 N. Wayne Ave., a 50-unit apartment building located in Chicago’s Rogers Park neighborhood. 

A local investor hired the Essex team of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd and Rick Ofman to market the property for sale. Within less than two weeks, the property went under contract and ultimately closed at a sale price of $5,950,000, at a 5.5% cap rate and GRM of 11.08. 

The property is prominently situated on Wayne Avenue, one block east of the Morse Avenue L Station and two blocks west of Lake Michigan. The property, known as Wayne Senior Apartments, provides affordable housing to residents aged 55 and older.  

The building is comprised of 32 studio and 18 one-bedroom apartments. The parcel also included a 30-space parking lot. Imber and Varde also represented the buyer. 

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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 GlobeSt.com 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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