Out-of-State Buyer Snaps Up East Chatham Portfolio
Essex Realty Group has closed the sale of a four-property portfolio located at 7945 S. Drexel Ave., 7948 S. Ingleside Ave., 8044 S. Ingleside Ave, and 8034 S. Ellis Ave. in the South Side’s East Chatham neighborhood. The combined total unit count is 154 units.
An out-of-state buyer purchased the four courtyard buildings for $7,375,000. Essex director Brian Mond was the broker on the transaction. Mond, who leads Essex’ South Side multifamily brokerage team, helped the buyer identify these multifamily opportunities at a time when portfolio opportunities were limited.
“I work on investment opportunities located throughout Chicago’s South Side,” said Mond. “While South Shore draws a lot of attention from out-of-state investors, opportunities are becoming scarce. Chatham, located just southwest of South Shore, proves to have similar qualities and a high yield of value-add investment opportunities.”
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 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).