Deal Closed at $6,300,000 Top of Market Pricing
Chicago—Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, completed the $6,300,000 sale of a 65-unit multifamily building located at 7733 S South Shore Drive. The deal closed at top of the market pricing, $96,923 per unit. Vice President Finley Askin represented the seller and buyer in the transaction.
Matthews™ closed with the first buyer selected, an out-of-state investor looking to plant capital in the Chicago MSA. The seller, who acquired the property in 2021, renovated and leased the units, capitalizing on the property’s low vacancy and modern finishes at sale.
“Selling this property to the seller in 2021 allowed me to execute a seamless transactional process, going from listing to closed in just 120 days,” said Askin.
The multifamily property sits on 20,000 square feet of land with each unit offering stainless steel appliances and granite countertops. Its roof was recently seal coated with all new rubber and new windows throughout the property. The property is located in the desirable South Shore neighborhood, offering easy accessibility to local beaches and the University of Chicago campus.
“I was able to leverage the Matthews™ extensive database and massive marketing reach to find the perfect buyer for this property,” said Askin. “We were able to execute terms that left both parties satisfied.”
For more information or to contact Finley Askin, please visit www.matthews.com.
About Matthews™
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 500 agents and support staff in 15+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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