Lake Street Lofts Acquires Multifamily Property In Chicago For $53.5M

Located in the vibrant city of Chicago, at 5700 North Ashland Avenue, a multifamily property has been sold in a recent transaction. The property, known as Lake Street Lofts, was involved in a closed sale for a staggering amount of $53,500,000. Spanning across 126,900 square feet, this multifamily asset offers a PPSF (price per square foot) of $422.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $53,500,000
• Address: 5700 North Ashland Avenue
• Market: Chicago
• Buyer: Lake Street Lofts - Pat Fitzgerald
• Seller: MCZ Edgewater Development - Michael Lerner
• Brokers: Lee Kiser, Jacob Price & Katie LeGrand - Kiser Group

In this transaction, Lake Street Lofts, led by Pat Fitzgerald, acted as the buyer, while MCZ Edgewater Development, headed by Michael Lerner, served as the seller. The deal was facilitated by the brokers Lee Kiser, Jacob Price, and Katie LeGrand, all from Kiser Group.