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| 2200 North Avers, Logan Square, Chicago, IL |
CHICAGO, IL (Dec. 16, 2013) – Kiser Group, Chicago’s leading
mid-market commercial real estate brokerage firm, recently brokered sales on
Chicago’s North Side of three apartment properties and the bulk purchase of 16
units in a condominium building.
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| Sean Connelly |
The four transactions included a five-unit property in
Bucktown, 80 percent of a 20-unit condominium building in Logan Square, a
10-unit building in Irving Park, and a six-unit building in Humboldt Park.
1874 N. Hoyne - Bucktown
The five-unit brick apartment building located at 1874 N.
Hoyne in Bucktown sold for $1,048,100. Sean Connelly, senior managing
director of Kiser Group, represented buyer and seller in the off-market sale.
2200 N. Avers – Logan Square
Sixteen out of 20
condominium units at 2200 N. Avers were purchased for $825,000. The sale
included 13 one-bedroom and three two-bedroom condos, each with one bath.
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| Bill Baumann |
“At the time of the
listing, the offering had a capitalization rate of more than 7 percent,” said
Connelly, who represented the seller in the sale.
“The sale also provides the
buyer the opportunity to acquire the remaining four units and recombine the
property identification number to reclassify the entire building as
apartments.”
“There is a lot of upside to this deal as the buyer can
convert these condos into much-needed rentals for the rapidly growing
neighborhood of Logan Square,” said Bill Baumann, senior managing
director of Kiser Group, who represented the buyer in the transaction.
4137-43 N. Kimball – Irving Park
Located at 4137-43
N. Kimball in Chicago’s Irving Park neighborhood, this 10-unit brick building
sold for $700,000. It includes three two-bedroom and seven one-bedroom
apartments, each with one bath.
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| Mike Anguiano |
“This is a well-maintained building on a corner property,”
said Brian Semel, senior managing director of Kiser Group. Semel and Mike
Anguiano, managing director of Kiser Group, represented buyer and seller in
the sale.
“The location near the Kennedy Expressway’s Irving Park exit
also attracts renters seeking easy access to downtown or the northern suburbs.”
3226 W. Potomac – Humboldt Park
This six-unit apartment property at 3226 W. Potomac in
Humboldt Park sold for $445,000. Brian Mond, managing director of Kiser Group,
represented the buyer in the off-market sale.
All the names of
buyers and sellers involved in these transactions are not available at this
time.
For a complete
copy of the company’s news release, please contact:
Mark Thomton
312-267-4523
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