Avondale/Logan Square Building Comes Full Circle

3124-3128 N. Kimball is a 16 unit walk-up building on the Logan Square/Avondale border, right across from the Belmont Blue Line ‘L’ Stop.  The deal was previously brokered by Interra's Brad Feldman in 2014 to the current sellers, who had bought it one transaction removed from being in bank foreclosure. How the world has turned. The building boasts a nice unit mix, ranging from studios and one bedrooms to two and three bedroom duplex units with upgraded kitchens, baths, and individual HVAC. 

The deal attracted much interest given its location in this desirable submarket. The seller was able to capitalize after seeing significant rent growth over half a dozen years and the buyer saw an ability to further spruce up units in order to bolster the rent roll and provide more economic efficiencies. The sign of a good deal is when both parties achieve their goals yet feel like they made concessions (albeit slight ones). Thus, this was a good deal.