Essex Realty Group is marketing for sale a 13-building, 194-unit multifamily portfolio in Riverdale, a neighborhood along the southern border of Chicago, and the South Chicago neighborhoods of Washington Park and Greater Grand Crossing.
The asking price is $14.5 million with an average price of $74,742 a unit. The portfolio represents a stable asset witth a steady cash flow. A total of 92% of the units are occupied, with only 14 vacant units. Of the occupied units, 93% are held by subsidy tenants.
The Riverdale properties span 10 buildings with 138 apartments. The additional Chicago properties represent 56 units.
