Silver Property Group Ltd. Acquires Multifamily Portfolio In Chicago For $19.3 Million

This transaction involved a multifamily portfolio consisting of five buildings located at 4654 North Monticello Avenue, 4718-24 North Bernard Street, 1501 North California Avenue, 4226-30 North Whipple Street, and 4057 West Melrose Street in Chicago. The properties encompass a total of 97 units, with a per unit price of $198,969. The sale price was $19,300,000, and the transaction occurred in a competitive multifamily market, benefiting from below-market-rate financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,300,000
• Address: 4654 North Monticello Avenue, 4718-24 North Bernard Street, 1501 North California Avenue, 4226-30 North Whipple Street, 4057 West Melrose Street
• Units: 97
• Price Per Unit: $198,969
• Buyer: Silver Property Group, Ltd.
• Market: Chicago
• Broker Representatives: Joe Smazal & Mark Dykstra - Interra Realty

Interra Realty facilitated the sale, highlighting the strong demand for multifamily properties in the Chicago market, with the properties located in Albany Park, Humboldt Park, Irving Park, and Kilbourn Park. The brokers involved, Joe Smazal and Mark Dykstra, played a pivotal role in this transaction.