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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 
Timber Court condos Arlington Heights IL Kiser Group

Kiser Group Finalizes Sale of Arlington Heights Condo Complex

Timber Court, a 72-unit residential condominium property in Arlington Heights, IL, has sold for $16 million to a Chicago-based portfolio apartment investor.  

Kiser Group’s Ron Plonis, Lee Kiser and Jeff Leibovich represented both the condo association and the buyer. Ray Cahnman was the president of the condo association’s board of directors and also one of the original developers. 

Built in 2007, Timber Court was originally designed to be a three-building campus. In early 2012, Timber Court learned that one of the developer partners was wrongly diverting funds from the project. After almost six years of litigation, the partner was ordered to repay $7.7 million in damages to Cahnman.  

“Kiser Group ran a very competitive marketing campaign and the association benefitted from a good price for the property,” said Cahnman. “That said, Timber Court was a financial disaster for me personally.  I wish the best for the new owners.” 

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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).

  • ◦Sale/Acquisition
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