Essex Realty Group Facilitates Sale Of Woodlawn Multifamily Property For $625K

Chicago based multifamily brokerage firm Essex Realty Group, Inc. recently brokered the sale of a 7-unit multifamily property located at 6757 S. Evans Avenue in Woodlawn, Chicago. The property was sold for a price of $625,000, equating to $89,285 per unit. This transaction marks the fourth South Side deal closed by the Essex team in the last 30 days.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $625,000
• Address: 6757 S. Evans Avenue
• Market: Woodlawn, Chicago

The seller was represented by Brian Mond, Steve Livaditis, and Jacob Goldstein of Essex Realty. Meanwhile, the buyer, a local investor, was represented by Steve Livaditis and Jacob Goldstein. Brian Mond, who leads Essex' South Side brokerage team, exclusively marketed the property for sale.

"We are witnessing a change in South Shore which is drawing attention from investors, both local and out-of-state alike. Where else in the country can you buy an investment opportunity at an 8% cap rate in a neighborhood located along the lake in one of the biggest metropolitan cities?" said Brian Mond, Director at Essex Realty.