March 25, 2019
Essex Realty Group’s Matt Feo has brokered the sale of 8523-27 W. Bryn Mawr Ave., a 12-unit courtyard apartment building in Chicago’s O’Hare neighborhood. The sale price was $1,365,000, or about $114,000 per unit, approximately 92% of the initial asking price.
The building had been owned and maintained by the same family for 30-plus years and has recently received several capital improvements. The sellers hired Feo to exclusively represent them in the disposition of the asset.
Feo, who was the sole broker on the transaction, procured 18 property tours and eight written offers within the initial three weeks of marketing. The property was under contract within 30 days.
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