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Chicago & Midwest  + South Side  + Apartments  | 

Essex Realty Closes 2nd Hyde Park Sale in 2 Months

Essex Realty Group has arranged the sale of 5417 S. Drexel Ave. an eight-unit, center-entrance brick apartment building in Chicago’s Hyde Park neighborhood. The property traded for approximately $1.44 million.

The property is two blocks east of Washington Park, approximately 1.5 miles west of Lake Michigan and less than a mile north of the University of Chicago. The planned Obama Presidential Library is two miles from 5417 S. Drexel.

Essex Realty’s Jordan Gottlieb and Brian Mond were the brokers on the transaction. Buyer and seller were not dislosed. Gottilieb and Mond conducted 14 property tours, and received multiple offers over a two-month period.

The firm has brokered several multifamily transactions in Hyde Park over the past several months. The largest of these was the $9.15-million trade of 6140 S. Drexel Ave., an 86-unit property, in August.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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