Six-Flat Comes to Market on Border of Wicker Park and Humboldt Park
Essex Realty Group, Inc. has been selected to exclusively market 1358 N. Artesian Ave., a six-unit multifamily property on the border of Chicago’s Wicker Park and Humboldt Park neighborhoods. It’s currently listed at $1,375,000, a price that reflects a 5.91% cap rate and 10.93 gross rent multiple.
The property is comprised of three two-bedroom/one-bathroom units, two three-bedroom/one-bathroom units, and one three-bedroom/two-bathroom unit. All units feature granite countertops, black appliances, hardwood flooring and central heating/air conditioning.
According to Rick Ofman, director of Essex and the broker leading the sales efforts, “This is an excellent opportunity to acquire a renovated property with immediate upside that can be captured by raising rents to market rates
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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