Chicago-based Essex Realty Group, Inc. has successfully sold 1327 W. Brummel St., a nine-unit multifamily building located in Evanston. The property features eight one-bedroom, one-bathroom units and a spacious three-bedroom, one-bathroom duplexed-down unit. It also includes a large adjacent parking lot with twelve spaces.
Essex’s Director Abe Eilian and Managing Director Matt Feo represented the seller while Principal Kate Varde represented the buyer in this transaction. With 18 buying groups touring the property and four offers received, there was significant interest in this well-maintained property with potential for additional growth under new ownership.
According to Abe Eilian, Director at Essex Realty Group: “Evanston is not known as a high-velocity market for multi-family properties; therefore opportunities like this are rare for investors looking to acquire units in the area.” He further added that due to its excellent condition and potential upside for new owners, they were able to create strong competition among buyers resulting in top-dollar value achieved by the seller.
This successful sale of an Evanston value-add property highlights Essex Realty Group’s expertise as a leading multifamily brokerage firm based out of Chicago.
