September 14, 2018
Essex Realty Group has arranged the sale of 5417 S. Drexel Ave. an eight-unit, center-entrance brick apartment building in Chicago’s Hyde Park neighborhood. The property traded for approximately $1.44 million.
The property is two blocks east of Washington Park, approximately 1.5 miles west of Lake Michigan and less than a mile north of the University of Chicago. The planned Obama Presidential Library is two miles from 5417 S. Drexel.
Essex Realty’s Jordan Gottlieb and Brian Mond were the brokers on the transaction. Buyer and seller were not dislosed. Gottilieb and Mond conducted 14 property tours, and received multiple offers over a two-month period.
The firm has brokered several multifamily transactions in Hyde Park over the past several months. The largest of these was the $9.15-million trade of 6140 S. Drexel Ave., an 86-unit property, in August.
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