Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Kiser Facilitates $7.6M Sale of Edgewater Property
Kiser Group completed the successful disposition of a 39-unit property in Edgewater. Danny Logarakis, Katie LeGrand and Jacob Price, brokers at Kiser Group, arranged the $7.6 million transaction. Advisors Price and LeGrand represented the seller, while Sr. Director Logarakis represented the purchaser.
The seller, Sam Grossman, managing partner of Fairchild Acquisition, completed a full renovation of the property in 2020. High-end unit finishes helped push occupancy levels over 97 percent. Additionally, the asset is located near Loyola University, attracting a large tenant base.
This sale marked a significant milestone in the area, setting a record as the highest price per unit ever at $195,000 per door for 1960-70s construction products in the Edgewater/Uptown vicinity. “Fairchild Acquisition is extremely pleased with Kiser Group’s, Katie LeGrand, and Jacob Price for achieving a record-setting sale price for our asset in the Edgewater Market,” said Grossman. Kiser Group is currently marketing the remaining assets in Grossman’s Edgewater/Rogers Park portfolio.
