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Logan Square Seller Achieves 75% Markup on 2015 Buy
Essex Realty Group, Inc. arranged the sale of 3137 W. Wellington Ave., a 12-unit apartment building in Logan Square. After performing an extensive renovation, seller JAB Real Estate achieved a nearly 75% markup on the $1.6 million it paid in 2015, a deal that Essex Realty also arranged.
“The continued growth in Logan Square is remarkable, and this property highlights a few of the reasons why Logan Square is so attractive to renters,” said Essex Realty principal Jordan Gottlieb. “The property at 3137 West Wellington, for example, is within a half mile walking distance from two CTA stations, plus critically-acclaimed restaurants and cocktail joints as well as local bars and breweries.”
Gottlieb and his colleagues, Jim Darrow and Jordan Multack, represented JAB. Essex Realty’s Doug Imber, Kate Varde and Clay Maxfield advised the buyer, a local investor group that paid $2,775,000, or $231,250 per unit.
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