**Essex Realty Group Finalizes Sale of 55-Unit Multifamily Portfolio in West Chatham**
Essex Realty Group has announced the successful sale of a three-building, 55-unit multifamily portfolio located in Chicago’s West Chatham neighborhood.
The properties are situated at 7909 S. Normal Avenue, 441 W. 79th Street, and 445 W. 79th Street. Joe Kahlhammer, Director at Essex Realty Group, handled the transaction.
The portfolio consists of a diverse unit mix, including six studio apartments, 26 one-bedroom units, 12 two-bedroom units, and four three-bedroom apartments. Additionally, the properties feature eight commercial spaces. The portfolio garnered significant market interest and ultimately sold for just over $3 million.
The location of the buildings is expected to benefit from enhanced connectivity with the ongoing construction of the Auburn Park Metra Station, part of the Rebuild Illinois infrastructure initiative. This new transit development aims to improve access throughout the city and surrounding suburbs.
“The buyer was attracted to the portfolio because of the previous owner’s management operations and the success of their nearby multifamily property. Congratulations to both parties involved,” said Kahlhammer.
