Bisnow: This Week’s Chicago Deal Sheet – 63 Unit South Shore Portfolio
CHICAGO, IL – Iron Bridge Lending sold two recently rehabbed rental properties in Chicago’s South Shore neighborhood for a total of $5.46M: 7646 South Essex Ave., a 30-unit apartment building, and 7800 South Phillips Ave., a 33-unit community. Interra Realty’s Ted Stratman and Jeremy Morton represented both Iron Bridge Lending and the undisclosed buyer, a local multifamily owner. Units in the two buildings, both constructed in 1926, were 88% occupied at the time of the sale.
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