Essex Realty Group, Essex Three-Twelve, and Essex Capital Markets have completed the transaction of 3134 N. Kimball Avenue, a 22-unit multifamily property in Chicago’s Logan Square neighborhood. The closing brings together three related Essex entities on a single assignment involving investment sales representation and acquisition financing.
On the investment sales side, the seller was represented by Jack Doyle, an associate with Essex Three-Twelve. The buyer was represented by an Essex Realty Group team led by Director Brian Keegan along with Principals Jim Darrow and Jordan Gottlieb. Their mandate encompassed advising their respective clients through the marketing, negotiation, and closing phases of the transaction.
The deal is notable for Essex as it marks the first time Essex Realty Group, Essex Three-Twelve, and Essex Capital Markets have jointly worked on the same asset, collectively serving on both sides of the sale while also coordinating the capital stack. This collaboration underscores the firm’s ability to integrate brokerage and capital markets services for multifamily investors pursuing transactions in established urban neighborhoods.
Essex Capital Markets arranged the acquisition financing on behalf of the buyer. The financing package was structured with a regional bank lender and was described as offering competitive terms for the borrower. While specific loan proceeds and pricing details were not disclosed, the structure was designed to align with the buyer’s business plan for the 22-unit property.
According to Essex Capital Markets’ Asher Motew, who worked on the financing alongside colleague Quinn Keenan, the loan structure was crafted to provide the buyer with sufficient runway to execute a renovation and repositioning strategy. This approach is intended to allow the sponsor to renovate the apartments, adjust rents in line with the refreshed positioning, and stabilize the property’s performance without being constrained by an overly tight timeline.
The Logan Square location of 3134 N. Kimball Avenue places the property within one of Chicago’s established residential neighborhoods, where investors often target value-add opportunities in existing multifamily stock. By aligning the sale and financing components under a single coordinated team, the parties were able to close the acquisition while putting long-term capital in place to support the planned improvements and subsequent lease-up.
In addition to the transaction announcement, the source highlighted that JDL Founder Jim Leitchinger will be recognized with the Changing Skyline Award and featured in a keynote interview at the Connect Midwest Multifamily Trends Conference on Tuesday afternoon, June 2, 2026. The program is positioned as an opportunity for industry participants to hear perspectives from a prominent multifamily developer active in the same regional market.
