Rare Portfolio on Far North Side Trades to Local Buyer
Kiser Group director Danny Logarakis brokered a five-building, $23-million sale in the North Side neighborhoods of West Rogers Park, Bowmanville and Budlong Woods. The deal represents one of the largest transactions completed in 2022 throughout Chicago’s Far North Side. The 198-unit portfolio was mostly vacant at the time of sale.
Logarakis said, “It’s incredibly rare to find a portfolio of this size with nearly 200 units, value-add buildings in these North Side neighborhoods, especially since the buildings were nearly all vacant and ready to turn around.”
The seller was a private individual who has owned the properties for more than 40 years. The buyers are Sam Trachtman and Stak Holdings LLC. The portfolio’s new ownership plans on carrying out cosmetic renovations to kitchens, bathrooms, and common areas in every building.
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).