Woodlawn Property Development Purchases Chicago Multifamily Asset From Joe Barnese For $1.7M

The multifamily asset located at 8301 South Paulina Street in the Chicago market has been sold for $1,700,000. This property comprises 26 units within a total square footage of 23,000. The price per unit is calculated at $65,384 and the price per square foot stands at $73.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,700,000
• Units: 26
• Square Footage: 23,000
• Price Per Unit: $65,384
• Price Per Square Foot: $73
• Buyer: Woodlawn Property Development (WPD)
• Seller: Joe Barnese
• Seller's Representatives: Robert Berman, Jeremy DeMarco, Daniel Shabsin & Joseph Kahlhammer - Essex Realty Group

This transaction included key participants such as Woodlawn Property Development, which acted as the buyer. Joe Barnese represented the selling party, while the seller's representatives were from Essex Realty Group, specifically Robert Berman, Jeremy DeMarco, Daniel Shabsin, and Joseph Kahlhammer.