Chicago-based multifamily brokerage firm Essex Realty Group, Inc. announced that it completed the sale of a massive 42-unit courtyard, multifamily apartment building in Greater Grand Crossing, a highly desirable neighborhood on Chicago’s South Side.
The 42-unit building, located at 6801-6811 S. Michigan Ave., consists of six studio units, 33 one-bedroom/one-bath units and three two-bedroom/one bath units. The property sold for $2.5 million or $59,525 per unit. CIC, a local lender, financed the deal.
The building was sold by an owner of 20-plus years and their pride of ownership was evident. The property includes secure entryways and 24-hour emergency maintenance services. Each unit features spacious layouts, windows, closets, radiator heating, and hardwood floors. The exterior property is beautifully landscaped with several mature flowering bushes and trees.
