REBusinessOnline

Essex Brokers $5.7M Sale of Apartment Building in Chicago’s Edgewater Neighborhood

The building includes 43 units.

CHICAGO — Essex Realty Group Inc. has brokered the sale of a 43-unit apartment building in Chicago’s Edgewater neighborhood for $5.7 million. The property, located at 6031-6043 N. Paulina St., has been owned by the same family for more than 50 years. The building includes 37 one-bedroom units and six two-bedroom units. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. Brad Desent and his siblings sold the asset to a private investor completing a 1031 tax-deferred exchange. Records indicate the property was purchased in 1965 for $260,000.

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