The sale of an 18-unit apartment building located at 7601 S. Emerald Ave in Chicago’s Auburn Gresham neighborhood was recently closed by Essex Realty Group, Inc.
Represented by brokers Robert Berman, Jeremy DeMarco, Joe Kahlhammer and Daniel Shabsin, the private seller sold the property to a local investor for $1.2 million.
According to Essex Managing Director Robert Berman, the buyer was drawn to this asset because of its favorable unit mix consisting entirely of two-bedroom units and its move-in ready condition. As interest rates continue to decrease and previously held cash is now being invested, there has been a noticeable increase in investment activity across all markets.
