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North Side’s Ravenswood Sees Rare Apartment Trade
Essex Realty Group has brokered the sale of 4516 N. Seeley Ave., a six-unit apartment building in the North Side’s Ravenswood neighborhood. The property went into contract within 11 weeks of hitting the market, and sold for $975,000.
With its real estate values having skyrocketed over the past decade, Ravenswood is sought-after by investors. However, Essex Realty says apartment buildings rarely become available in the neighborhood, and opportunities to buy are few and far between.
The seller, a private real estate investor, hired Essex’s Matt Feo and Doug Fisher to handle the disposition of the asset.
Feo also represented the ultimate purchaser, an undisclosed local real estate company. The new ownership of 4516 N. Seeley plans to invest further to significantly renovate the property.
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