Kiser Group Director, Danny Logarakis, brokered the five-building, $23 million dollar transaction in the northside neighborhoods of West Rogers Park, Bowmanville, and Budlong Woods. The deal represents one of the largest transactions completed in 2022 throughout the far northside of Chicago. The 198-Unit portfolio was mostly vacant at the time of sale.
Logarakis stated, “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.”
Logarakis frequently brokers transactions in these northside areas, this is a rare opportunity to acquire a portfolio that has been under the same ownership for over 40 years.
The seller is a private individual that has owned the properties for over 40 years. The buyers are Sam Trachtman and Stak Holdings LLC. The buyer plans on carrying out cosmetic renovations to kitchens, bathrooms, and common areas in every building.