May 30, 2019
Essex Realty Group recently arranged the sale of 5201 W. Schubert Ave. in the Northwest Side’s Belmont Cragin neighborhood. The multifamily property traded for approximately $1.2 million.
The property consists of 12 apartments, including six one-bedroom and six two-bedroom units. All 12 have been renovated over the past 10 years.
Doug Imber, Kate Varde and Clay Maxfield of Essex Realty represented the seller. The firm’s Jim Darrow, Jordan Gottlieb and Jordan Multack advised the buyer.
In its listing for 5201 W. Schubert, Essex Realty noted that the property offers significant rental upside. Current rents at 5201 W. Shubert are approximately $150 below the market average on a per-unit, per-month basis.
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