April 2, 2019
Essex Realty Group’s Brian Mond has arranged the sale of a 62-unit apartment property within an Opportunity Zone in the South Side’s Kenwood neighborhood. The sale price was approximately $4.325 million. Buyer and seller were not disclosed.
The unit mix at 4625 S. Drexel Blvd. in Kenwood includes 45 studios, 15 one-bedroom, and two two-bedroom garden apartments. Essex Realty had marketed the property as a value-add opportunity, noting that it offered 3,000 square feet of raw space on the ground floor that could be used for additional amenities.
The Kenwood neighborhood is located three miles from the Loop. The University of Chicago is less than two miles away, with a bus stop about 1,000 feet from the property.
For comments, questions or concerns, please contact Paul Bubny