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AIA Arranges Fourth Edgewater Deal for Fairchild
Apartment Investment Advisers (AIA) arranged the sale of a 42-unit corridor style apartment building located at 5710 N. Winthrop, in the North Side’s Edgewater neighborhood.
The seller was a private local investor, and the buyer was Fairchild Acquisitions, a local real estate development and management company. The property sold for $5,300,000.
AIA has brokered the sale of several apartment buildings to Fairchild recently, including a 28-unit building at 6211 N. Kenmore, a 39-unit building at 6000 N. Winthrop, and a 41-unit building at 6565 Lakewood.
Fairchild made its first Edgewater acquisition in 2018. “The goal at the time was to acquire 250 units by 2024,” said principal Sam Grossman. “With our fourth acquisition, we now own over 150 units, or 60% of our target, in just two years.”
AIA’s Bill Cassin, who arranged the sale, said Edgewater continues to represent “a great value for the North Side of the city.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
