Ron Abrams Of Silver Property Group Acquires 20-Unit Multifamily Building In Chicago For $22M

The transaction involved a multifamily asset consisting of a 20-unit building located at 2200 North Avers Avenue in Chicago. The property, purchased for $22,000,000, had a price per unit of $1,100,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,000,000
• Buyer: Ron Abrams - Silver Property Group
• Seller: Jayson Lemberg & James Peterson - Pioneer Acquisitions LLC
• Broker: Joe Smazal - Interra Realty
• Units: 20
• Market: Chicago

Silver Property Group, represented by Ron Abrams, acquired this asset as part of a larger portfolio deal that included 117 units valued at $22.3 million, which was previously owned by Pioneer Acquisitions LLC, represented by Jayson Lemberg and James Peterson. The deal was facilitated through Joe Smazal of Interra Realty, who managed the entire six-building transaction, all of which consisted of former failed condo conversions with upgraded finishes.