Chicago-based multifamily brokerage firm Essex Realty Group has announced the sale of 4501-4509 N. Greenview Avenue, a 37-unit courtyard apartment building located in Chicago’s Ravenswood neighborhood.

The transaction was completed by Essex Principals Doug Imber and Kate Varde, along with Essex Managing Director Rick Ofman. The vintage courtyard building is comprised of six studios and 31 one-bedroom apartments. 4501-4509 N. Greenview Ave. is located on the northeast corner of N. Greenview Ave. and W. Sunnyside Ave., just off North Clark Street, a major business hub.

“Given the desirability of the Ravenswood market, properties are held for longer than in many other sub-markets, making this such a unique opportunity,” said Imber. “Additionally, the transaction was more involved in that the seller was lining up a forward 1031 exchange, and the purchaser was pursuing a reverse 1031 exchange.”