RE Journals: 204-unit multifamily portfolio sells in Chicago’s Kenwood neighborhood for $18M
“Experienced sponsors continue to pursue multifamily investments due to the sector’s strong performance relative to other asset classes,” said Goss. “On Chicago’s South Side, which remains attractive to investors, portfolios of this size and scale seldom change hands, especially in a low-velocity sales market like Kenwood. Despite a termination in the early stages of the deal due to COVID-19 and the stay-at-home order, the buyer came back after seeing rent collections hold steady in subsequent months and paid the price originally negotiated prior to COVID.”
The portfolio includes some affordable housing communities whose apartments are reserved for households that meet eligibility requirements.
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