Essex South Side Team Lists 22-Unit Property in Greater Grand Crossing

Commercial real estate brokerage firm Essex Realty Group, Inc. has been selected to exclusively market 7456 S. Eberhart Avenue, a 22-unit mixed-use property located in Chicago’s Greater Grand Crossing neighborhood.

The property’s twenty-two units consist of eleven one-bedroom and five two-bedroom apartments, and five ground floor retail spaces. Located on Chicago’s south side, Greater Grand Crossing is one of the area’s most vibrant and growing neighborhoods. New developments continue to arise, most notably a new residential development that will be located at 7237 S. Vincennes Avenue. The project will replace a large vacant lot and will be within one and a half miles from the subject property.

“It is not doubt that investors are taking an increased interest to Chicago’s south side. With new developments popping up across the area, we will continue to see appreciation across Greater Grand Crossing and surrounding south side neighborhoods,” said listing broker Brian Mond.

Mond is heading the sale of the building, which is located near the primary retail district of Greater Grand Crossing. Furthermore, the property is within proximity to several public transportation outlets, providing tenants with convenient access to Chicago’s downtown and central business district.

The property is currently being offered to investors for $1,385,000. The list price reflects an 8.25% cap rate and 6.4 GRM.