Cedar Street Co. has announced the closing of the 25-unit Ashland Commons, located at 7722 N. Ashland, Chicago. The three-story courtyard style residential building was purchased for $900,000 from 7722 North Ashland LLC. Cedar Street Co. will revitalize and rebrand the Rogers Park property as No. 7722 and will be owned and managed by Cedar Street Co.’s subsidiary company, FLATS Chicago. The building will feature complimentary wi-fi and washer/dryers in all units.
Cedar Street Co is launching the development of FLATS Chicago in the Uptown community of Chicago. Conceived by partners and childhood friends Jay Michael, Alex Samoylovich and Thomas Kim, FLATS Chicago is a collection of lifestyle rental properties that emphasizes big style in smart spaces by bringing hotel branding into the multifamily market.
