A 141-unit apartment property has sold in the West Pullman neighborhood on Chicago’s southwest side. Located at 232 E. 121st Place, the asset sold to an out-of-state private investment group for $10,600,000. Jeff Baasch, senior vice president and Finley Askin, advisor of SVN Chicago Commercial completed the transaction.
“In spite of the uncertainty surrounding the current health and economic environment, we continue to see strong interest in multifamily properties from well-funded investors with longer-term investment horizons,” Baasch said. “Multifamily is broadly considered to be one of the most resilient commercial real estate sectors and we anticipate multifamily properties will prove to be resilient—as the sector has in past downturns.”