Apartment Investment Advisers closes on two Chicago portfolios

Apartment Investment Advisers (AIA) recently closed two separate apartment building portfolios on the South Side of Chicago. The combined price for the two sales was more than $7.6 million.

AIA closed a three-building, 71-unit apartment portfolio in the South Shore neighborhood, consisting of a 27-unit apartment building at 6938 S. Clyde Avenue, a 24-unit apartment building at 7822 S. South Shore Drive and a 20-Unit apartment building at 6751 S. Chappel Avenue. The portfolio sold for $4,900,000 with Jack Cassin of AIA brokering the sale.

Cassin and Mike Lindblad of AIA also brokered the sale of a three-building, 66-unit apartment portfolio for $2,707,000. The portfolio consists of a 36-unit mixed-use building in the Washington Heights neighborhood at 9101 S. Ashland Avenue, an 18-unit apartment building in the Auburn Gresham neighborhood at 7546 S. Peoria Street and a 12-unit apartment building in the Auburn Gresham neighborhood at 8743 S. Beverly Avenue.

AIA is currently marketing The Jeffery Towers Portfolio, a four-building, 208-unit apartment portfolio in the South Shore neighborhood. The asking price is $16,200,000 with Cassin and Lindblad of AIA brokering the sale.