Chicago-based multifamily brokerage firm Essex Realty Group, Inc. completed the sale of a massive 42-unit courtyard, multifamily apartment building in Greater Grand Crossing, a desirable neighborhood on Chicago’s South Side.

The property sold for $2.5 million or $59,525 per unit. CIC, a local lender, financed the deal. Essex Associate Joe Kahlhammer said, “The team was pleased to source a local buyer, who was a perfect fit for the building, given his expanding portfolio in the neighborhood.”  

The 42-unit building, located at 6801-6811 S Michigan Avenue, consists of six studio units, 33 one-bedroom and three two-bedroom units. The building was sold by an owner of more than 20 years. The property includes secure entryways and 24-hour emergency maintenance services. Each unit features spacious layouts, windows, closets, radiator heating, and hardwood floors. The exterior of the building features lush landscaping with several mature flowering bushes and trees.