Chicago & Midwest + South Side + Apartments | May 8, 2023

Kiser Group arranged the sale of a five-building apartment portfolio in the Beverly neighborhood of Chicago's southwest side

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.”

Photo credit: Burnhamandroot/Wikipedia.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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