Essex Realty Group Closes 12-Unit Rogers Park Multifamily Transaction
Essex Realty Group announced the sale of 1706–1716 W. Farwell Avenue, a 12-unit multifamily apartment building in Chicago’s Rogers Park neighborhood.
Essex Realty Group Principals Doug Imber, Kate Varde, and Managing Director Rick Ofman represented the seller, while Essex Principal Jim Darrow represented the purchaser, a California-based 1031 exchange investor.
The property underwent a complete renovation in 2013 and features eight two-bedroom apartments and four three-bedroom duplex apartments. Unit amenities include hardwood floors, granite countertops, stainless steel appliances and in-unit laundry.
“The 1706 Farwell transaction reflects the continued strength of the neighborhood’s appeal to investors,” said Ofman. Located in Chicago’s Rogers Park neighborhood, 1706–1716 W. Farwell Avenue benefits from convenient access to public transportation, including the Rogers Park Metra station and the Morse CTA Red Line station. The property is also approximately 1.2 miles north of Loyola University Chicago and within walking distance of the dining and retail corridors.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout