Chicago Investor Sells Apartment Portfolio for $72M

The longtime owner has sold a portfolio of more than 300 apartments on the city’s North Side, cashing in on the multifamily portfolio he has been assembling for decades.

According to Crain’s, Chicago investor David Gassman received a total of $72.4 million for his 17-building portfolio, which was divided up and sold to eight buyers in separate deals brokered by Essex Realty Group. The deals ranged from the $23.5 million sale of a 125-unit portfolio in Rogers Park to smaller, several-million-dollar transactions for four to eight units.

Affiliates of Chicago-based Slater Realty & Investment acquired the largest chunk of the portfolio, buying 125 apartments in Rogers Park. Other buyers included the firms Casey Capital, Highland Real Estate Partners, Aljack Investments and Fairmont Property Management, per the outlet.

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