Matthews™ Completes $6.2M Sale of Chicago Five-Property Multifamily Portfolio

Chicago — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the off-market $6.2M sale of a five-property multifamily portfolio comprising 95 units. The properties are in a dense residential area on the West Side of Chicago. Vice President Finley Askin represented the seller and buyer in the transaction.

 

The properties were purchased by an out-of-state buyer based out of Brooklyn, New York, looking to acquire a sizable portfolio with upside rent potential. The seller, a local private investor, was looking to relinquish the properties and reallocate capital to other investments across Chicago.

 

“This transaction emphasizes the importance of strong relationships and connections in the industry,” said Askin. “I was able to source this deal off-market with a local owner who was looking to lock in a qualified buyer.”

 

The Chicago properties are located at 42-52 North Waller Avenue, 318-322 North Lotus Avenue, 4916-4918 West Augusta Avenue, 5214-5216 West Washington Avenue, and 551-553 North Central Avenue. The West Side of Chicago offers investors high cash flow buildings with healthy appreciation.

 

“Leveraging Matthews™ technology and comprehensive market knowledge of the Chicago area was the key to success in this 95-unit transaction,” said Askin.

 

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 400 agents and support staff in 15 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.