Cedar Street Co., a leading diversified holding company headquartered in Chicago, has added FLATS No. 4303, to its extensive portfolio of properties, in an effort to continue growing the Northside community. FLATS No. 4303 marks Cedar Street Co.’s seventh property, purpose built to bring Chicagoans quality real estate to the area.
The 55-unit acquisition is located at 4303 N. Keystone Ave., Chicago, IL 60641. Cedar Street Co. is planning to renovate all aspects of the property to ultimately create a fully furnished, amenity rich building that meets the company’s high standards of living.
“Value, individuality and character really drive our approach to business for FLATS Chicago,” said, Alex Samoylovich, managing partner. “This property is no exception to those guidelines, and we are truly looking forward to building an authentic environment for our customers, at an approachable rent.”
The asset was purchased as a real estate owned (REO) asset from North Community Bank at a reduced price of $3,500,000. The deal, which took four years to close, was obtained directly through North Community Bank at a discount to the par loan balance.