Finley Askin with CRER was the sole broker in the sale of a pair of south side properties consisting of 72-units located at 8242-58 S Drexel Ave and 11207-15 S King Dr. The Drexel property is a 46-unit multifamily building located in Chicago’s Chatham neighborhood and sold for $2.75MM / $59,782 per unit. The King Drive property, a 26-unit multifamily building in Chicago’s Roseland neighborhood, sold for $1.44MM / $55,385 per unit.
Both sellers, local private investors, owned each property for over 12 overs. The two New York based buyers took advantage of an opportunity to add an additional steady cash-flowing asset to their Chicago multifamily portfolio. Finley continues to work with both of these buyers as well as with other out-of-state investors to aggressively acquire south side multifamily properties.
Finley was able to achieve a top of the market price for each of the sellers without bringing either property to market. If you are interested in a free valuation or want to discuss your property, please reach out to Finley at (606) 375-5398 or FinleyA@crer.com
