Institutional investor nabs north side apartment building

The sale marks the second institutional buyer purchase this year
  • KIG announced the closing of a $21.6 million multifamily property on the north side
  • The 8-story property has 223 units and 9,000 square feet of retail on the ground floor
  • The neighborhood's resurgence is due to the close proximity to the red line, Lake Michigan and booming Andersonville

The areas of Edgewater, Uptown and Andersonville have been on the rise as desirable communities for renters and buyers for the past few years, and the north side neighborhoods are going to be getting a new pool of inventory.