Essex Realty Group Negotiates $2.3M Sale of 4-Building Multifamily Portfolio in Chicago’s Austin Neighborhood
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CHICAGO, ILLINOIS – Essex Realty Group, Inc a leading Chicago based multifamily brokerage firm, is pleased to announce the closing of a 4 building, 38-unit portfolio located in Chicago’s West Side Austin neighborhood.
Essex’ Berman Anguiano Team consisting of Robert Berman, Michael Anguiano, Daniel Shabsin, Jeremy DeMarco, and Joe Kahlhammer exclusively represented the long-term, local seller in this transaction. The properties, located at, 44 N Mason, 60 N Mason, 112 N Mason, and 150 N Mayfield, sold to a local investor for $2,325,000.
This stabilized portfolio consisted of seventeen [17] 1 bed/1 bath units and twenty-one [21] 2 bed/1 bath units. The new owner plans to update vintage units to capture rising rental rates.
“We continue to see strong demand for west side assets. Following a targeted marketing campaign, we procured multiple offers from both local and out of state buyers”, said Robert Berman, Managing Director.