Essex Realty Group closed the sale of 7900 S. Merrill Ave., a 15-unit multifamily property in the South Side’s South Shore neighborhood. This is the third South Shore apartment building Essex Realty has sold this month.
“Chicago’s South Shore neighborhood is one of the 10 communities selected as part of the new INVEST South/West campaign to invest funds into specific retail corridors throughout a few south and west side communities,” said Essex director Brian Mond. “7900 S. Merrill sits directly along the 79th Street corridor in South Shore and will likely benefit from this improvement initiative.” Mond and director Abe Eilian represented the seller in this transaction
The buyer, an out of state investor, purchased the property for approximately $825,000, or $58,333 per unit.
Earlier this month, Essex finalized deals for 7748 S. Kingston Ave., a 34-unit apartment building, and 7400 S. Chappel Ave., an 18-unit building.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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