“The buyer owns properties throughout the city and knows Logan Square is increasingly drawing renters willing to pay higher prices for quality residences,” said Smazal. “Although the deal initially went off the track when the pandemic hit, the buyer knew the building was a good long-term investment and came back to the table with equity from the sale of a Lakeview property. Middle-market multifamily remains strong in Chicago heading into the fourth quarter, and we continue to help investors—including 1031 buyers—find the best opportunities in the current landscape.”

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