Kiser Group Advisors, John George and Joe Bianchi, successfully brokered the sale of a $8.5 million portfolio in Beverly. The portfolio includes five buildings that are all situated within a two-block radius, comprised of 85-units with an excellent unit composition. These buildings are located in one of the most sought-after neighborhoods of Southwest Chicago.
George and Bianchi’s recent promotions have provided them with an increased sense of urgency and enthusiasm, as they worked tirelessly to close the deal despite the lengthier and more complex escrow process. After owning the properties for almost 25+ years, the Rubino Family decided to sell the property to Beverly Holdings, LLC. However, as each property was owned by a different family member, the escrow process was longer and more complicated than usual.
“The properties have great value-add potential through renovations and strategic management, making them extremely appealing to the buyer,” said John George. “Their proximity to public transportation and excellent location were also attractive characteristics.”
John George commented that the current real estate market in Beverly is highly competitive, with limited properties available for sale. He further added, “when a property is listed for sale, it creates a cut-throat competition among buyers to secure it as a result buyers are eagerly bidding high prices to secure a property.”