## Essex Realty Group Facilitates Sale of Hyde Park Apartment Building
Essex Realty Group has successfully completed the sale of a 124-unit, 15-story apartment building located at 5550 S. Dorchester Avenue in Chicago’s Hyde Park neighborhood.
Built in 1949, the property offers a mix of 82 one-bedroom units, 29 two-bedroom units, and 13 studios. Additionally, it includes seven parking spaces. The apartments are equipped with modern amenities such as stainless steel appliances, quartz countertops, new cabinetry, and updated bathrooms.
Situated at the southeast corner of S. Dorchester Avenue and E. 56th Street, the building is conveniently located near the University of Chicago, multiple bus stops, and Lake Michigan.
The transaction was facilitated by Essex Realty Group Principals Doug Imber and Kate Varde, along with Managing Director Rick Ofman.
“The sellers were just the second owner of the property. It had been conscientiously maintained and operated,” said Imber. “For the purchaser, acquiring a stabilized and prominent asset of this scale just steps from the University of Chicago was a terrific strategic decision.”
