Essex Realty Group South Side Team Brokers Sale of 154-Unit Apartment Building Portfolio in Chicago’s East Chatham Market

October 27, 2021

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.

Read Full Article at MultifamilyBiz
Tagged in this post: Brian Mond