Steven Rapoport with CRER recently closed a 9 unit apartment building at 833 Hamlin St, Evanston, IL 60201 downtown Evanston in record time, with multiple offers, and over the asking price.
With high demand and low supply for multifamily investment properties, along with strategic pricing and marketing campaign, Steven was able to dispose of the building $100,000 over the asking price, while only showing it on a single day to 23 prospective buyers. This allowed for minimal disruption to tenants and instant offer presentation.
The property offered stable returns while providing the buyers an opportunity to build sweat equity by renovating units and increasing rental rates. The highly desirable location also offers tenants easy access to public transportation with the Foster Purple Line stop only a 3-minute walk away. This location is also walkable to: Northwestern University, downtown Evanston and Lighthouse & Clark Street beaches.
Contact Steven if you need help buying or selling a multifamily property in Chicago or the surrounding suburbs. If you are interested in better understanding what your property could sell for contact Steven for a free valuation report including financial analysis and comparable sales.