CRER recently represented both the buyer and seller in the sale of 7845 S Avalon Ave, a 52-unit mixed-use property located in Chicago’s south side neighborhood of Chatham. The sales price was $2,750,000 or $52,885 per unit.
The seller, a local private investor, owned the property for more than 10 years. The buyer, a New York based investor, was looking to build a portfolio of cash flowing properties on the south side of Chicago and appreciated the stability of this asset, even through the pandemic of 2020. It also gave the buyer the unique opportunity of acquiring 50+ units in one location.
CRER was able to identify the right buyer to achieve the goals of the seller without taking the property through a full-blown marketing campaign.
