Rogers Park Multifamily Trades After Five-Decade Hold
Essex Realty Group closed the sale of 2018-2020 W. Farwell Ave., a 49-unit multifamily property in Rogers Park. The firm’s Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd represented the seller, a local family partnership who had owned the property for more than 50 years.
Essex principals Jim Darrow and Jordan Gottlieb represented the buyer, a local investor. The property closed for approximately $5,450,000.
Varde said, “There is significant investor demand today for well located, value-add opportunities, particularly of the size and scale of Farwell.”
The buyer intends to update the unit interiors and common areas, which are currently in their original vintage condition. The property is located 0.5 miles from the Rogers Park UP-N Metra Station and 0.9 miles from the Morse Red Line CTA Station.
This is the second Rogers Park apartment building closed by Essex in the past month, following 2317 W. Chase Ave. in March.
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).
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