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Chicago & Midwest  + South Side  + Apartments  | 

Two Properties, Two South Side Neighborhoods, One Buyer

Essex Realty Group closed the sale of 8200 S. Maryland Ave., a 25-unit multifamily property in Chatham, and 1235 W. 81st St., a 10-unit property in Auburn Gresham. Both traded to the same out-of-state buyer, who intends to start a management company to operate them.

Director Brian Mond, who leads Essex’s South Side multifamily brokerage team, helped the buyer identify these acquisitions at a time with limited portfolio opportunities.  

“The buyer had not purchased in Chicago before but saw potential and value-add opportunities in the multifamily properties located throughout Chicago’s South Side neighborhoods,” said Mond. Because the buyer wanted to accumulate a large number of units at once and portfolio opportunities in these neighborhoods were slim, “we introduced the idea of buying from multiple sellers at once rather than finding one seller with that exact unit count.”  

8200 S. Maryland closed for $1,310,000 and 1235 W. 81st closed for $740,000.  

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Essex Realty

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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