Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
AIA Brokers Two Portfolio Deals on South Side
Apartment Investment Advisers (AIA) recently sold two separate apartment building portfolios on the South Side, totaling 94 units and nearly $4 million in value. Buyers and sellers weren’t disclosed.
In one transaction, AIA closed a two-building, 50-unit portfolio consisting of a 32-unit building located at 6938 S. Cregier in the South Shore neighborhood, and an 18-unit building at 7252 S. Evans in the Greater Grand Crossing neighborhood. The portfolio sold for $2,355,000, or $47,100 per unit.
In the other, AIA closed a three-building, 44-unit apartment portfolio in South Shore, comprised of an 11-unit building at 7727 S. Colfax, a 16-unit building at 7959 S. Muskegon and a 17-unit building at 7951 S. Muskegon. The portfolio sold for $1,600,000 or $36,363 per unit.
Jack Cassin and Mike Lindblad of AIA were the brokers involved in both sales.
Pictured: 7951 S. Muskegon.
Subscribe to Connect Daily Chicago
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
