Apartment Investment Advisers (AIA) recently sold two separate South Side Chicago apartment building portfolios, comprising five properties. Jack Cassin and Mike Lindblad of AIA were the brokers involved in both sales.
AIA closed a two-building, 50-unit apartment portfolio consisting of a 32-unit building located at 6938 S. Cregier Avenue in the South Shore neighborhood and an 18-unit building at 7252 S. Evans Avenue in the Greater Grand Crossing neighborhood. The portfolio sold for $2,355,000 or $47,100 per unit.
Separately, AIA closed a three-building, 44-unit apartment portfolio located in the South Shore neighborhood and comprised of an 11-unit building at 7727 S. Colfax Avenue, a 16-unit building at 7959 S. Muskegon Avenue and a 17-unit building at 7951 S. Muskegon Avenue. The portfolio sold for $1,600,000 or $36,363 per unit.