Kiser Group Arranges Sale of North Side’s Mabel Exchange
Kiser Group closed the sale of a 52-unit mixed-use property located in the Edgewater neighborhood on Chicago’s North Side. Directors Andy Friedman and Jake Parker, along with managing broker Lee Kiser, represented both the buyer and the seller in this $9.2-million transaction.
“5920 N Ridge, known as the Mabel Exchange, is an iconic building at the nexus of Edgewater and Andersonville,” said Friedman. “Built in 1928 to serve as the corporate headquarters of Maybelline, the Mabel Exchange is a great example of a historically important Chicago building.”
The property includes 35 studios, 15 one-bedroom units, 2 two-bedroom units, and 20,000 square feet of commercial space. Additionally, the property has indoor parking for 33 spaces.
“The seller purchased the Mabel Exchange in 2019 and gut-renovated the building,” said Parker. “Envoi plans on further elevating the Mabel Exchange through the addition of amenities and improving the commercial space.”
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).