CRER Senior Director Finley Askin represented the seller in the sale of 7646 S Ingleside Ave, a 31-unit apartment building in Chicago’s Greater Grand Crossing neighborhood. The fully stabilized building closed for $2,800,000 or $90,323 per unit.
Built in 1930, 7646 S Ingleside offers a desirable unit mix of 31 two-bedroom, one-bathroom apartments, with spacious floor plans and updated kitchens and baths throughout. The building was fully stabilized at closing with approximately 80% of the rent roll paid by various subsidies.
The local seller recently completed a host of capital improvements and decided to capitalize on the high demand in the appreciating south side neighborhood. The local buyer was drawn to the opportunity by the in-place yield and rising rental rates.
CRER’s Recent South Side Multifamily Closings
Finley Askin and the CRER team remain among the most active brokers in Chicago’s South Side multifamily market, with recent closings including:
Considering Selling Your Property?
With a proven track record and deep expertise in the Chicago multifamily market, Finley Askin and the CRER team are well positioned to help you achieve a successful outcome. Contact us today to discuss how we can help unlock the full potential of your asset.
