Essex Realty Group, Inc., a Chicago-based multifamily brokerage firm, has successfully sold a 34-unit multifamily building in the Cicero area. The property, located at 2123-2125 S. 51st Ct, boasts well-maintained units that have recently been upgraded with new plumbing and electrical systems. These units consist of a mix of 13 studios and 21 one-bedroom apartments with one bathroom each.
Conveniently situated within walking distance to various dining options and just two minutes away from the CTA Pink Line station at 54th/Cicero, this property offers an attractive location for potential tenants.
Moreover, investors have the opportunity to increase rents in its current condition which adds further appeal to this investment opportunity. According to Brian Karmowski, Managing Director at Essex Realty Group Inc., “The sale of this property on 51st Court presents an investor with immediate scale in an area where rental demand is high.” He also mentioned that their platform generated significant interest from both local and national buyers resulting in a sale price exceeding over ninety percent of its list price.
This recent transaction by Essex Realty Group showcases their expertise as they continue to facilitate successful deals for clients looking for profitable investments without compromising on quality or location.
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