Kiser Group Arranges Chicago Condo Deconversion Sale
Andy Friedman, Jake Parker, Danny Logarakis and Rick Ofman arranged the sale of the 28-unit Rogers Park community.
Kiser Group has brokered the $3.5 million Section 15 deconversion sale of 1319 W. Sherwin Ave., a 28-unit building in Chicago’s Rogers Park neighborhood. Advisors Andy Friedman, Jake Parker, Danny Logarakis and Rick Ofman represented the buyer, a private investor, as well as The 1319 West Sherwin Condominium Association.
The three-story building was constructed in 1962 as an apartment community and includes 16 one- and 12 two-bedroom units. After acquiring the property in 2008 in a deal brokered by Kiser, the new owner transformed the apartments into condos.
The asset is located at 1319-27 W. Sherwin Ave., just off the North Sheridan Road retail corridor. The property is 11 miles north of downtown Chicago, a short distance from Lake Michigan and the Jarvis station on the El’s Red Line.
The association put the property up for sale three years ago. According to Logarakis, the asset changed hands three weeks after Kiser was selected as the exclusive listing agent. Earlier this month, the Chicago brokerage arranged the record sale of a 12-unit community in the South Shore neighborhood.