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Essex Completes Sale of West Chatham Multifamily Portfolio
Essex Realty Group has completed the sale of a three-building, 55-unit portfolio in Chicago’s West Chatham neighborhood.
The buildings are located at 7909 S. Normal Ave., 441 W. 79th St., and 445 W. 79th St. Essex Director Joe Kahlhammer facilitated the transaction. The buildings have a combined unit mix of six studios, 26 one-bedroom, 12 two-bedroom, and four three-bedroom apartments, in addition to eight commercial spaces.
The portfolio attracted significant interest and ultimately sold for just over $3 million. The neighborhood is welcoming a new Metra station currently under construction just down the street from the properties, the Auburn Park Metra Station. The project is part of the Rebuild Illinois infrastructure plan and will provide increased accessibility throughout the city and surrounding suburbs.
“The buyer was attracted to the portfolio because of the previous owner’s management operations and the success of their nearby multifamily property. Congratulations to both parties involved”, remarked Joe Kahlhammer, Director at Essex Realty Group, LLC.
