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Chicago & Midwest  + North Side  + Apartments  | 
1940 W. Addison apartments Chicago

Six-Flat with Upside Potential Trades in Roscoe Village

Essex Realty Group recently facilitated the sale of 1940 W. Addison St. in the North Side’s Roscoe Village neighborhood. A local investor acquired the brick center-entrance six-flat for $1,535,000. 

The seller, a local investor, hired the Essex team of Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd to market the property for sale. Shepherd represented the buyer. 

Of the six units, three were recently updated with stainless steel appliances, modern cabinetry, granite countertops, and renovated bathrooms. The property presented multiple value-add strategies including a proven strategy for updating the remaining units and raising rents to capture significant rental upside. 

“1940 Addison was an exceptional location, positioned just west of Wrigleyville, just south of North Center, and in the heart of Roscoe Village,” said Shepherd. “The long-term owner was a wonderful steward to the property, but the units are now ready to be brought to the next level.” 

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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 16-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 7-10 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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