Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, in conjunction with online commercial real estate auction platform RI Marketplace, recently sold Grand Crossing Portfolio, a six-property multifamily portfolio located throughout South Chicago. Associate Jimmy Donahue, Senior Associate Jonah Yulish, Vice President Finley Askin, and Vice President of Auction Services Robert Anderson handled the transaction.
The portfolio was approximately 50% vacant, providing the buyer with significant upside potential once stabilized.
The Matthews™ database accounted for 83% of the registered bidders, including the winning bidder. The buyer plans to stabilize the portfolio by renovating units and improving mechanical systems as needed. The sellers benefited from Matthews’ database, market knowledge, and relationships within the industry.
