Chicago-based multifamily brokerage firm, Essex Realty Group, Inc., has been exclusively engaged to market a property for sale in the Buena Park neighborhood on the north side of Chicago. The property, built in 1901 and featuring 14 apartment units, is listed by Rick Ofman, Kate Varde and Doug Imber. It consists of eleven one-bedroom and three two-bedroom units with considerable operational upside for investors.
According to Ofman, this is an excellent opportunity for investors as the current owner prioritized occupancy over higher rents resulting in rates that are below market value by 10-20%. With no need for costly renovations, a new operator can easily capture this potential upside.
Located approximately six miles from Chicago’s Central Business District and near the Wilson Red and Purple Line station providing convenient access throughout Chicagoland. Additionally,the property is less than one mile from Lake Michigan and Wrigley Field making it an attractive location for tenants.
The article “MF Property on Chicago’s North Side Listed For Sale” was originally published on Connect CRE website.
