Essex Completes Sale of West Chatham Multifamily Portfolio

Essex Completes Sale of West Chatham Multifamily Portfolio
News| July 18, 2025| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Essex Realty Group has completed the sale of a three-building, 55-unit portfolio in Chicago’s West Chatham neighborhood.

The buildings are located at 7909 S. Normal Ave., 441 W. 79th St., and 445 W. 79th St. Essex Director Joe Kahlhammer facilitated the transaction. The buildings have a combined unit mix of six studios, 26 one-bedroom, 12 two-bedroom, and four three-bedroom apartments, in addition to eight commercial spaces.

The portfolio attracted significant interest and ultimately sold for just over $3 million. The neighborhood is welcoming a new Metra station currently under construction just down the street from the properties, the Auburn Park Metra Station. The project is part of the Rebuild Illinois infrastructure plan and will provide increased accessibility throughout the city and surrounding suburbs.

“The buyer was attracted to the portfolio because of the previous owner’s management operations and the success of their nearby multifamily property. Congratulations to both parties involved”, remarked Joe Kahlhammer, Director at Essex Realty Group, LLC.

Other News

One Beverly Hills Reaches Milestones Ahead of Schedule

California & West + Apartment Buildings

The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...

Learn more

Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion

New York & Tri-State + Apartment Buildings

Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...

Learn more

Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor

Apartment Buildings

Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up