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Essex Team Lists Rogers Park Courtyard Property
Essex Realty Group, Inc. has been selected to market for sale 7381 N Damen Ave., a vintage 32-unit multi-family courtyard property in Chicago’s Rogers Park neighborhood. The property is offered at $5,250,000 by the Essex team of Doug Imber, Kate Varde, Jaimie Steinher, Dan Shepherd and Rick Ofman.
The property provides investors with an opportunity to acquire a well-maintained apartment building at a price that reflects a 10.25 gross rent multiple, and with as-is rents between $100 to $200 below market. “Over the past 20 years, Rogers Park has experienced a 4.0% average annual compounding rate of appreciation,” said Imber. “And 7381 Damen is situated in one of the neighborhood pockets most positioned for growth.”
The property is located on a quiet tree-lined street within 0.1 miles of Pottawatomie Park, and within walking distance to numerous businesses and restaurants. The Howard L station is less than a mile away.
- ◦Sale/Acquisition
