Steven Rapoport with CRER (Chicago Real Estate Resources, Inc.) just sold 1422 W. School St. a 3-unit investment property in Lake View’s Southport Corridor, on Chicago’s Near North Side.
The property, located in a pilot ADU area, sold for $1,250,000 after only one day of showings to multiple prospective buyers. This allowed for minimal disruption to tenants and instant offer presentation.
By implementing strategic pricing and marketing campaign we were able to help the seller achieve a sale price 27% above the average sale price for similar properties in the area. Within a one-mile radius surrounding the priority we identified (40) sales of similar (3) unit properties that sold over the past 6 months. These properties traded between $536,500 and $1,650,000 with an average sale price of $982,695.
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. Stevenr@crer.com | cell: 847-863-2707