Chicago Multifamily Portfolio Sale
Undergoing a portfolio sale requires meticulous attention to detail, extensive hours of underwriting, and constant updates to offering materials. After conducting numerous market analyses of the buildings using sales comps, building stabilization and condition, as well as rent comps and overall performance, 33 Realty reached a price point the seller was content to market at.
We were instructed to shop the portfolio off market in order to get the most serious buyers and prevent a flood of showings that would bog down property management. After marketing to a number of local and national buyers, 33 Realty was able to achieve a vetted purchaser who ultimately bought the 295 unit multi-family portfolio in a series of tranches over the course of late 2017 to early 2018. The purchase price achieved was markedly higher than what had been trending for stabilized assets in their respective neighborhoods.