CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of a four-property East Chatham portfolio located at: 7945 S. Drexel Avenue, 7948 S. Ingleside Avenue, 8044 S. Ingleside Avenue, and 8034 S. Ellis Avenue. The combined total unit count is 154 units.
An out-of-state buyer purchased the four courtyard buildings for $7,375,000. Essex Director Brian Mond was the broker on the transaction. Mond, who leads Essex’ South Side multifamily brokerage team, helped the buyer identify these multifamily opportunities at a time when portfolio opportunities were limited.
Mond explains, “I work on investment opportunities located throughout Chicago’s South Side. While South Shore draws a lot of attention from out-of-state investors, opportunities are becoming scarce. Chatham, located just southwest of South Shore, proves to have similar qualities and a high yield of value-add investment opportunities.” He continued, “I congratulate all involved in these transactions.”
Mond’s team also recently closed another Chatham multifamily investment property. 8200 S. Maryland Avenue, a 25-unit apartment building, sold for $1,310,000. The team is also actively marketing multiple Chatham-area opportunities including 404 E. 79th Street, a 20-unit mixed-use building, and 720 and 740 E. 79th Street two properties comprised of 67 units total that are located on opposite corners.