A local investor has acquired a 237-unit multifamily portfolio on Chicago's South Side in a foreclosure sale. The portfolio, previously owned by Adam Walls of 5812 Group, was sold for nearly $12.25 million. The transaction took place in the Chicago market, specifically at 5253 South Prairie Avenue, 6214 South Eberhart Avenue, 6952 South Clyde Avenue, 7645 South East End Avenue, 7701 South Green Street, 7646 South Ingleside Avenue, 7053 South Wabash Avenue, 7001 South Michigan Avenue, and 125 East 71st Street. The price per unit for this multifamily asset is estimated to be $51,688.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $12,250,000
• Units: 237
• Market: Chicago
• Seller: Adam Walls - 5812 Group

The sale of the multifamily portfolio was facilitated by two brokers. Tyler Dechter from Baum Realty Group and Finley Askin from Matthews Real Estate Investment Services represented the parties involved in the transaction. This acquisition took place below the total mortgage amount and despite market challenges, it attracted competitive bidding. This demonstrates the continued demand for multifamily assets in the Chicagoland area.