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Chicago & Midwest  + North Side  + Apartments  | 
Essex Realty Group arranged the sale of a three-building apartment property in Chicago's Avondale neighborhood

“Low-Maintenance” Avondale Multifamily Sells to Local Investor 

Essex Realty Group recently facilitated the sale of 3508-3516 N. Sacramento Ave., a 15-unit multifamily building located in the North Side’s Avondale neighborhood. The property was originally developed and built in 2014 and is comprised of three adjacent buildings. 

An Essex team of Jordan Gottlieb and Matt Feo marketed the property. The property sold within 99% of the list price to a local investor for $4,525,000. Gottlieb and Essex principal Jim Darrow represented the buyer. 

The property presented an investor with the opportunity to acquire a low-maintenance asset in an excellent Avondale location and to increase rents to market levels in the current condition or convert to condominiums. 

“We saw tremendous interest in this property due to its attractive location and unit mix, but most importantly, as construction costs have continued to rise, we have seen increase investor demand for finished and stable properties,” said Gottlieb. 

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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).

  • ◦Sale/Acquisition
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