CHICAGO, Il - Essex Realty Group, Inc., a mid-market brokerage firm based in Chicago, IL is pleased to announce the sale of 1417 W. Cullerton Street, a six-unit multifamily property located in Chicago’s Pilsen neighborhood.
The property closed for $1,080,000 or $180,000 per unit. According to Co-Star Comps, this is the highest price per unit for a multi-family property featuring five units or more sold in the last year. Essex Principals Jim Darrow and Jordan Gottlieb, with Director Jordan Multack represented the seller, a local investor. Essex Director Matt Feo represented the buyer.
“The buyer found a great opportunity in 1417 W. Cullerton as this property is a well-maintained asset located in a great pocket within a vibrant and growing neighborhood,” explains Feo.
1417 W. Cullerton Street features four units in the front building and two units in the rear coach house. Each apartment features beautiful hardwood floors, stainless steel appliances, granite countertops in the kitchen, and individual HVAC and hot water tanks. A new owner could likely make minor cosmetic updates to the units and increase rents over time.
The property is located on the south side of Cullerton Street, just west of Loomis Street, and is conveniently located less than one mile from both the 18th Street and Damen Pink Line CTA Stations. The property sits in a prime location of Pilsen, just a few blocks from Pilsen’s popular 18th Street, which features trendy restaurants, bars, and entertainment options.