“The buyer was seeking a stabilized, cash-flowing asset with an opportunity to add value, and 7526 S. Colfax fit the bill,” said Stratman. “The strong price reflects multifamily investors’ continued interest in Chicago’s South Side.”

7526 S. Colfax was built in 1928 and has 17 two-bedroom and seven three-bedroom units. The property was 92% occupied at the time of sale.

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