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Chicago & Midwest  + South Side  + Apartments  | 

L.A. Investor Makes Ninth South Side Acquisition

A 44-unit apartment building at 4611 S. Drexel Blvd. in the Kenwood neighborhood of Chicago’s South Side has sold. Jeff Baasch, SVP of SVN Chicago Commercial, brokered the sale.

The property sold to ShainRealty Capital, a Los Angeles-based, privately-owned real estate investment firm, for $4,900,000. The seller was a court-appointed receiver, according to published reports.

Jonathan Shainberg, managing partner of ShainRealty Capital, said, “This acquisition marks our ninth purchase in the South Side of Chicago. We are strong believers in the affordable housing space, especially deals with a good amount of upside and value-add left on the bone.” 

According to Baasch, “We received multiple offers on the opportunity which is reflective of the strong demand for multifamily properties. Multifamily has remained fairly resilient despite the challenges presented by current market uncertainty.” 


Inside The Story

SVN Chicago Commercial’s Baasch

About Paul Bubny

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. 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 15-20 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 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).

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