Multifamily N Illinois

Sheridan Park apartment building sells after one week on the market

Sheridan Park apartment building sells after one week on the market,ph1

Essex Realty Group brokered the sale of 4637 N. Dover Street, a six-unit, fully renovated apartment building in Chicago’s Sheridan Park neighborhood. The property went under contract after just one week on the market and closed less than 45 days later for approximately $1,650,000.

The seller, Rany Management, a local property management firm, was represented by Essex principals, Doug Imber and Kate Varde, and director, Clay Maxfield.

“The sellers were seeking to divest the asset in order to consolidate their portfolio and take advantage of the strong demand for quality properties in desirable neighborhood,” Maxfield said.

Renovated in 2011, the property features new electric service, a new roof, new windows, new copper plumbing, individual HVAC and individual hot water tanks. In addition, units feature new drywall, new bathrooms, modern kitchens with stainless steel appliances, granite or quartz countertops and in-unit laundry. The property is also situated less than half a mile from the Wilson CTA Station servicing the Red and Purple Lines.