Beverly Portfolio Sale Closes After Complicated Escrow Process
Kiser Group advisors John George and Joe Bianch brokered the $8.5-million sale of an apartment portfolio in Beverly on Chicago’s Southwest Side. The portfolio includes five buildings that all are situated within a two-block radius, totaling 85 units.
After owning the properties for almost 25+ years, the Rubino Family decided to sell the portfolio to Beverly Holdings, LLC. However, since each property was owned by a different family member, the escrow process was longer and more complicated than usual.
“The properties have great value-add potential through renovations and strategic management, making them extremely appealing to the buyer,” said George. “Their proximity to public transportation and excellent location were also attractive characteristics.”
He added that the current real estate market in Beverly is highly competitive, with limited properties available for sale. “As a result, buyers are eagerly bidding high prices to secure a property.”
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