Chicago-based multifamily brokerage firm Essex Realty Group Inc. recently facilitated the sale of a 27-unit apartment building located in Chicago’s Lincoln Park neighborhood. The property, located at 2500 N. Clybourn Ave., sold for $8,100,000 reflecting a 5.27% cap rate.
2500 N. Clybourn offered investors the opportunity to purchase a newer construction building with oversized apartments, outdoor space, and indoor parking. The sellers hired Jordan Gottlieb and Matt Feo to market the property for sale. Essex’ extensive marketing campaign resulted in a dozen tours and multiple competitive offers.
“Because the property was originally intended for condominiums back in 2008, the apartments are significantly larger than the average multifamily property built today and include outdoor space and garage parking,” said Gottlieb.
The post Essex Realty Brokers Lincoln Park Sale at 5.27% Cap Rate appeared first on Connect CRE.
Chicago-based multifamily brokerage firm Essex Realty Group Inc. recently facilitated the sale of a 27-unit apartment building located in Chicago’s Lincoln Park neighborhood. The property, located at 2500 N. Clybourn Ave., sold for $8,100,000 reflecting a 5.27% cap rate. 2500 N. Clybourn offered investors the opportunity to purchase a newer construction building with oversized apartments, …
The post Essex Realty Brokers Lincoln Park Sale at 5.27% Cap Rate appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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