November 4, 2019
Apartment Investment Advisers (AIA) recently closed the sale of an apartment building in the North Side’s Portage Park neighborhood. The 15-unit building at 5205 W. Pensacola sold for $2,450,000, or $163,333 per unit, a new benchmark for Portage Park.
George Cassin and Jack Cassin of AIA were the brokers involved in the sale. Buyer and seller weren’t identified.
“It was a challenge to achieve this sale price, but it was the price this property truly deserved,” said George Cassin. AIA says it’s the kind of building that will attract renters moving out of downtown to Portage Park, yet still demanding more modern living standards.
“Give us a property improved to a level the market has never seen, and we’ll show you a sale price at a level the market has never paid,” Jack Cassin concluded.
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