Essex Three-Twelve Closes Roscoe Village Three-Unit After Generating More Than a Dozen Offers
CHICAGO, ILLINOIS – Essex Three-Twelve is pleased to announce the successful sale of 3438 N. Seeley Ave., a vintage three-unit property located in Chicago’s highly sought-after Roscoe Village neighborhood. The property closed for $985,000, with Essex Three-Twelve Managing Broker Niko Apostal representing the sellers.
The sale marked the end of a nearly 25-year chapter for the property’s three owners, siblings who originally purchased the building shortly after college and each called it home. As their lives evolved, the property transitioned into a long-term investment, generating rental income for more than a decade before the owners ultimately decided the time was right to sell.
Transaction Summary
A Nearly 25-Year Ownership Story
For the sellers, 3438 N. Seeley Ave. represented more than an investment property. The three siblings purchased the building shortly after college, with each living in the property during the early years of ownership.
Over time, the building transitioned from a place they called home into an income-producing investment. After renting the property for more than a decade, the owners ultimately decided it was time to realize the value they had built over nearly a quarter century of ownership.
Expanding the Buyer Pool Beyond Multifamily Investors
With the sellers focused on maximizing value, Essex Three-Twelve developed a marketing strategy centered around delivering the property vacant and positioning the opportunity for multiple potential buyer profiles.
Rather than marketing 3438 N. Seeley Ave. exclusively as a traditional multifamily investment, the property was exposed to investors, developers, and residential buyers. This broader approach created competition among buyers evaluating the property for different potential uses.
After approximately one month of marketing, the strategy resulted in more than a dozen offers.
Finding the Right Buyer for 3438 N. Seeley Ave.
Ultimately, the property was sold to a neighbor who saw an opportunity to preserve the vintage building and rehabilitate it into a single-family residence.
The outcome demonstrates why identifying the full potential buyer pool can be particularly important when selling smaller Chicago multifamily properties. Depending on the property, condition, zoning, location, and vacancy, the strongest buyer may not always be a traditional multifamily investor.
“3438 N. Seeley is a great example of why understanding the full buyer pool matters when selling a smaller multifamily property,” said Niko Apostal, Managing Broker at Essex Three-Twelve. “We knew that delivering the building vacant would create flexibility and allow us to market it beyond traditional multifamily investors. By creating competition among several different types of buyers, we were able to find the right purchaser and achieve a strong result for our clients.”
Multifamily Demand in Roscoe Village
Located in Roscoe Village, 3438 N. Seeley Ave. benefits from its position in one of Chicago’s established North Side residential neighborhoods. Vintage housing stock, walkability, neighborhood restaurants and retail, and proximity to major commercial corridors continue to support interest from both investors and residential buyers.
The transaction also demonstrates the importance of developing a marketing strategy around the individual property rather than taking a one-size-fits-all approach to a multifamily sale. By evaluating the sellers’ objectives, property characteristics, potential buyer profiles, and optimal timing before going to market, Essex Three-Twelve was able to generate substantial competition and identify an outcome aligned with the sellers’ goal of maximizing value.
Work With Essex Three-Twelve
Every Chicago multifamily property presents a different set of opportunities. For owners considering a sale, understanding who may value the property most—and how to position it for those buyers—can have a meaningful impact on the outcome.
Essex Three-Twelve specializes in the sale of Chicago multifamily properties with three to twelve units. Our team helps owners evaluate current market value, buyer demand, positioning, and marketing strategy before bringing a property to market.
About Essex Three-Twelve
Essex Three-Twelve is a Chicago multifamily brokerage specializing in investment sales of three- to twelve-unit apartment buildings. As an entity of Essex Realty Group, Essex Three-Twelve provides property owners and investors with market insight, valuation expertise, strategic marketing, and transaction advisory services tailored to Chicago’s small multifamily market.