Essex Realty Group Brokers the Sale of Two New Construction Apartment Properties Totaling $25 Million
April 12, 2018 09:40 AM
1545 W. North Ave. is a31-unit new construction, mixed-use property located in the Wicker Park/Bucktown neighborhood of Chicago.
Essex’ brokerage team of Doug Imber, Kate Varde, and Clay Maxfield was exclusively hired to sell the property for Chicago’s prominent developer, Sedgwick Properties. Essex was proud to be involved in the process from inception, offering research on market rents, expenses, and values.
The property was purchased by Chicago’s Supera family, who acquired the property for a price of $12,150,000.
Similarly, 1202 Waukegan Rd. is a 36-unit, new construction property located in the Chicago’s affluent suburb of Glenview.
The developers, Riverforest Development LLC, hired Essex’ principal Matt Welke to represent them in the sale. Welke worked with the developers throughout the process, including consulting on apartment finish levels. The purchaser, an out-of-state private capital investor, was represented by Essex’ brokerage team of Doug Fisher and Vic Ciancetta. The property sold for $13,100,000.