Essex Realty Group South Side Team Brokers Sale of 154 unit apartment building portfolio in Chicago’s East Chatham Market
CHICAGO, IL – Essex Realty Group, Inc. is pleased to announce the sale of a portfolio of four properties in East Chatham located at: 7945 S. Drexel Avenue, 7948 S. Ingleside Avenue, 8044 S. Ingleside Avenue and 8034 S. Ellis Street. The total number of combined units is 154 units.
An out-of-state buyer purchased the four court buildings for $ 7,375,000. Essex Director Brian Mond was the broker for the transaction. Mond, who heads the Essex South Side Multi-Family Brokerage team, helped the buyer identify these multi-family opportunities at a time when portfolio opportunities were limited.
Mond explains, “I am working on investment opportunities located on the South Side of Chicago. While South Shore attracts a lot of attention from out-of-state investors, opportunities are scarce. Chatham, located just southwest of the South Shore, is found to have similar qualities and a high yield of value-added investment opportunities. He continued, “I congratulate everyone involved in these transactions.”
The Mond team also recently closed another multi-family investment property in Chatham. 8200 S. Maryland Avenue, a 25-unit building, sold for $ 1,310,000. The team is also actively marketing several opportunities in the Chatham area, including 404 E. 79th Street, a 20-unit mixed-use building, and 720 and 740 E. 79th Street, two properties with a total of 67 units located in opposite corners.