Essex Realty Group Inc., is pleased to announce the closing of 6107-11 South St. Lawrence Ave., a handsome nine (9) unit multifamily property. The sale facilitated by South Side Director, Brian Mond, traded at $785,000 which is equivalent to $87,222 per door. Strategically located in a highly sought after neighborhood, Woodlawn, this property is a short walk to University of Chicago Campus and a stones throw to multiple transit lines; just a few of multiple reasons why this location is so popular to reside in. 6107-11 S. St Lawrence was a value-add property that generated fifteen tours within moments of marketing. These are rapidly changing neighborhoods and it is very rare to find a value add property in such good condition such as this. Updates to kitchens, bathrooms, and common spaces, could improve the tenant base with ease.
The Woodlawn neighborhood is located less than 1 mile from the University of Chicago. The Subject property is located 0.5 miles from the Cottage Grove Green Line CTA station. This neighborhood has seen great growth over the last decade due to the sister neighborhoods, Jackson Park & Hyde Park. Students, young professionals, as well as families reside in Woodlawn.
- Prime rental location in Woodlawn
- Proximity to multiple modes of transit
- Value-Add opportunity
- Potential to convert and expand apartments into larger units; increase the rental income
- New roof
- University of Chicago Campus