Full-service commercial real estate advisory firm SVN Chicago Commercial completed the sale of a 27-unit multifamily building at 7548-7558 S. Colfax Avenue in Chicago’s South Shore neighborhood. The asset sold for $2,275,000, or $84,260 per unit.
Jeff Baasch and Finley Askin, advisors with SVN Chicago represented the seller, South Chicago Buildings LLC, and were the sole brokers involved in the transaction. The property closed within 60 days of listing and achieved the highest per-unit sale price in market.
“The property was well-occupied and recently renovated,” Baasch said, “which attracted significant interest from potential buyers, achieving a strong sales price for the market.”