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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.”
- ◦Sale/Acquisition
