CRER Senior Director Finley Askin brokered the $10,000,000 sale of a 51-unit multifamily portfolio in Chicago’s fast-growing Bronzeville neighborhood. The two fully renovated properties, located at 4400 S Calumet Ave and 4501 S Calumet Ave, traded for $196,078 per unit, marking it the largest multifamily sale recorded in Bronzeville in 2025. Finley represented both buyer and seller, reaffirming CRER’s leadership in Chicago’s South Side apartment market.
The portfolio recently completed a full gut renovation featuring high-quality finishes, updated mechanical systems, and modern unit layouts. The buildings were fully stabilized at closing, reflecting the strong rental demand throughout Bronzeville and the broader South Lakefront corridor. The local buyer was drawn to the meticulous renovation, long-term stability, and the neighborhood’s continued growth fueled by proximity to major employers and new development.
CRER’s Recent South Side Multifamily Sales Activity
Finley Askin and the CRER team continue to be among the most active brokers in Chicago’s South Side multifamily market, with several notable closings including:
- 50-Unit REO Multifamily Portfolio – Auburn Gresham
- Two-Building, 26-Unit Multifamily Portfolio – Auburn Gresham
- $5.85M Sale of 66 Units – Hyde Park
These transactions highlight CRER’s ability to source qualified buyers, underwrite complex portfolios, and close deals efficiently across Chicago’s South Side investment corridor.
South Lakefront Multifamily Market Update
The South Lakefront multifamily submarket remains one of Chicago’s strongest rental markets, driven by consistent demand and limited new construction.
- Vacancy has fallen to a multi-decade low of 5.7 percent as absorption continues to outpace new deliveries
- Rents have posted 3.2 percent year-over-year growth, supported by strong tenant demand.
- With only 133 units under construction across the submarket, supply remains constrained — positioning the area for continued rent growth and investor interest.
These fundamentals continue to attract both local and institutional buyers seeking stable, long-term multifamily assets.
Thinking About Selling Your Multifamily Property in Bronzeville or Chicago’s South Side?
With a proven track record across Bronzeville, Hyde Park, Woodlawn, Auburn Gresham, and the entire South Side of Chicago, Finley Askin and CRER offer unmatched market knowledge, buyer reach, and execution capabilities. Whether you’re considering selling a small apartment building or a large multifamily portfolio, our team can help you maximize value and navigate every step of the transaction.
Contact us today to discuss your property and learn how we can help you unlock its full potential.
