Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, completed the $6,300,000 sale of a 65-unit multifamily building located at 7733 S. South Shore Drive. The deal closed at top of the market pricing, $96,923 per unit. Vice President Finley Askin represented the seller and buyer in the transaction.
Matthews™ closed with the first buyer selected, an out-of-state investor looking to plant capital in the Chicago MSA. The seller, who acquired the property in 2021, renovated and leased the units, capitalizing on the property’s low vacancy and modern finishes at sale.
The multifamily property sits on 20,000 square feet of land with each unit offering stainless steel appliances and granite countertops. Its roof was recently seal coated with all new rubber and new windows throughout the property. The property’s location offers easy accessibility to local beaches and the University of Chicago campus.
