RE Journals

Essex Realty Group Brokers 49-Unit Chicago South Side Multifamily Portfolio

December 18, 2023

CHICAGO, ILLINOIS – Essex Realty Group, a leading Chicago based multifamily brokerage firm, is pleased to announce the closing of a 4-building, 49-unit, multifamily portfolio located in Chicago’s Gage Park, Chicago Lawn, and Auburn Gresham neighborhoods.

Essex brokers Robert Berman, Michael Anguiano, Daniel Shabsin, and Jeremy DeMarco represented the long-term, local owner in this transaction. The properties, located at 2732 West 59th, 6357 South Francisco, 6602 South Troy, and 1248 West 83rd, were sold to an out-of-state investor.

“Thanks to our Team’s deep knowledge of the South Side market, we were able to secure a buyer within weeks of our initial discussions with the seller,” said Essex Managing Director Robert Berman.

This stabilized portfolio consists of twenty-four [24], 2-bedroom units; twenty-two [22] 1-bedroom units; and three [3] commercial storefronts. The new owner plans to update vintage units to capture rising rental rates.

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