Essex Realty Group, LLC closed the sale of the Wood Street Portfolio, a 20-unit, three-building multifamily portfolio at 7929, 7935, and 7957 S. Wood St. in Chicago’s Auburn Gresham neighborhood.
Essex Realty Group Directors Jesus Garcia and Joe Kahlhammer exclusively represented the seller in the transaction.
The Wood Street Portfolio consists of three contiguous multifamily buildings totaling 20 apartment units, providing investors with the benefits of operational efficiency and economies of scale. The portfolio includes a six-unit building at 7929 S. Wood Street featuring a central boiler system, along with six-unit and eight-unit buildings at 7935 and 7957 S. Wood Street, each with individually metered units and individual furnaces.
The portfolio features a desirable workforce housing unit mix consisting of two one-bedroom/one-bathroom units, eight two-bedroom/one-bathroom units, ten three-bedroom/one-bathroom units, and one three-bedroom/two-bathroom units. At the time of sale, 15 of the 20 apartments were leased to CHA voucher tenants, providing stable in-place occupancy and reliable cash flow.
Located in Chicago’s Auburn Gresham neighborhood, the portfolio benefits from a well-established South Side submarket known for its affordability, strong workforce housing demand, and consistent renter base. Positioned along the 7900 block of South Wood Street, all three buildings are located within the same block, providing convenient access to major thoroughfares including 79th Street, Ashland Avenue, and Western Avenue, as well as CTA bus routes, nearby Metra service, neighborhood retail, parks, schools, and other community amenities.
