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Chicago & Midwest  + North Side  + Apartments  | 

Kiser Partners on Sale of LIHTC Apartments in Old Town

Kiser Group and Affordable Housing Investment Brokerage recently brokered the sale of Renaissance North in Chicago’s Old Town neighborhood for $15,450,000. Kiser Group’s Michael D’Agostino and Affordable Housing Investment’s Kyle Shoemaker represented the buyer, a national investment fund focused on workforce and affordable housing, and seller Renaissance Companies.

The property at 551 W. North Ave, is a 59-unit apartment building with ground floor retail. Built in 2003 under the Low Income Housing Tax Credit program and HOME funds via the City of Chicago, Renaissance North includes 18 units that are subsidized by an agreement with the Chicago Housing Authority.

“This property required a specific buyer profile, and we were pleased with the national investor interest,” said D’Agostino. “In addition to the buyer’s focus on affordable housing, they saw opportunities to add value in the market rate units and the parking garage as well.”

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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 16-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 7-10 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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