Trending Multifamily News
Becovic, a Chicago-based multifamily owner and operator, has added a 1920s era courtyard building to its Northside portfolio. The Juneway Gardens, located at 1548-1558 ½ W Juneway Terrace in Chicago, sold for $7.25 million. The off-market transaction was brokered by Becovic Realty, the brokerage arm of Becovic.
“Our roots are deep in Rogers Park and we use decades of experience to create the best apartment home experience for our residents,” said Becovic President Sal Becovic. “The Juneway Gardens is a beautiful property with a great mix of apartment floor plans. We are excited to continue building community with residents in such a great neighborhood.”
Originally built in 1922, The Juneway Gardens is a three-story, 61-unit courtyard apartment building located in Chicago’s Rogers Park neighborhood. The seller, a well-known owner/operator of many apartments in the area, owned the property for more than 30 years. The property’s 61 units are made up of 18 one-bedrooms, 34 two-bedrooms and nine three-bedroom units. Situated in the North of Howard area of Rogers Park, the property offers residents great proximity to parks and lakeside amenities as well as shopping, restaurant and nightlife offerings.
Becovic, a Chicago-based multifamily owner and operator, has added The Fleetwood, located at 6026 N. Winthrop Avenue in Chicago, Illinois, to its Edgewater portfolio. The property sold for $7.25 million, and the deal was brokered by Becovic.
“With almost 50 years of experience as a housing provider in the Chicago market, we have something to offer everyone, and we look forward to continuing to build community with our new residents and neighbors,” said Sal Becovic, President at Becovic.
Originally built in 1929, The Fleetwood is an eight-story, 59-unit apartment building located in Chicago’s Edgewater Beach neighborhood. The seller, a well-known owner/operator of many apartments in the area, owned the property for almost 40 years. The property’s 59 units are made up of 21 studios, 37 one-bedrooms and one two-bedroom unit. It’s situated in a prime location close to shopping, parks, beaches and excellent transportation.
“The previous owner has done great things with the property and for the neighborhood, and we are proud to take it over,'' said Becovic.
Becovic, a Chicago-based multifamily owner and operator, has acquired 6758 N. Sheridan in Chicago, Illinois for $9.8 million. The deal was brokered by Kiser Group’s Advisors Rick Ofman and Danny Logarakis. Kiser Group represented both the seller, The Vranas Family Trust, and Becovic in the transaction.
“Investor interest in Rogers Park multifamily continues to rise. We had 38 tours, resulting in multiple competitive offers,” said Ofman. “It’s no surprise that more than 800 multifamily units in the neighborhood have changed hands so far this year.”
Originally built in 1974, 6758 N. Sheridan is a 73-unit 4+1 apartment building located on the east side of Chicago’s Rogers Park neighborhood. The building has 29 studio apartments and 44 one-bedroom units.”
“For decades, the seller had kept this building well-maintained,” said Logarakis. “When marketing this property, we conducted more than 30 tours and received nine offers. The value-add potential, as well as the Loyola University location of the building, was very appealing to potential investors.”
“We are big believers in Rogers Park,” said Sal Becovic, President at Becovic. “We are excited about the addition of The Sheridan Pratt at 6758 N. Sheridan to our communities and look forward to serving its residents.”
“During the 2nd and 3rd quarters of this year, we have experienced a tidal wave of multifamily investor activity throughout the Chicagoland area, as capital pent up during the pandemic began free-flowing back into the markets,” said Lee Kiser, Principal and Managing Broker of Kiser Group. “Rick and Danny did a great job corralling that activity for a successful marketing campaign.”
“This portfolio acquisition is an historic moment for Becovic,” said Sal Becovic, President of Becovic. “As a vertically integrated real estate company, our management arm and newly formed syndication arm both celebrate firsts with this deal.
- 805-11 N. 22nd St.
- 833 N. 21st St.
- 825 N. 22nd St.
- 2125 W. Kilbourn Ave.
- 853 N. 21st St.
- 819-21 N. 21st St.
- 2128-30 W. Wells St.
- 2103 & 2113 W. Kilbourn Ave.
- 2112 W. Wells St.
- 2435 W. Wisconsin Ave.
- 2217 W. Wisconsin Ave.
- 2311 W Wisconsin Ave.
- 2335 W Wisconsin Ave.
- 2807 W. Michigan St.