Sequoia Realty Group is pleased to announce the sale of two multi-family apartment buildings in Chicago. Dan Stratis, Vice President of Brokerage at Sequoia, was the exclusive agent on behalf of ownership for both properties.
The buildings are located in the Auburn Gresham neighborhood at 7954-58 S. Marshfield and 8001 S. Hermitage. With a unit mix of 1 and 2 bedrooms, the buildings are performing assets with strong occupancy.
Mr. Stratis was able to secure a cash buyer who purchased both buildings and closed within 45 days of contract acceptance.
“The market for apartment buildings is very strong right now. This is due to a combination of factors including low supply of available buildings, high occupancy resulting in higher rents, and historically low-interest rates,” said Stratis.
He added, “Buyers are coming back to the market. We are seeing significantly increased activity for multi-family properties.”