Essex Realty Group, Inc., a Chicago-based multifamily brokerage firm, recently facilitated the sale of 1651 W. Chicago Avenue for $3.045 million in a 1031 Tax Deferred Exchange to a local investor. This four-story mixed-use building is located in the West Town/Ukrainian Village neighborhood and was built in 2007 with eight units, two commercial spaces and six luxury apartments.
Jim Darrow and Jordan Gottlieb from Essex’s brokerage team were exclusively hired by the seller -a local investor – to market this property for sale through an extensive marketing campaign that proved successful due to its attractive assumable financing features among other great features of the building. Both parties were represented by Jim Darrow and Jordan Gottlieb during this transaction process as well as throughout negotiations leading up to closing day..
“1651 W. Chicago is truly unique,” said Essex principal Jim Darrow who led this sales initiative.”The assumable financing made it very appealing which ultimately allowed us close on time despite current market conditions.”
