CHICAGO — Los Angeles-based investment firm ShainRealty Capital has sold an eight-building, 200-unit portfolio located in Kenwood neighborhood on the South Side of Chicago for $28.5 million. The eight-building, value-add portfolio was sold to a locally based syndicate led by Eagle Infinite Investments. Lucas Fryman and Ted Stratman of Interra Realty arranged the transaction.
The properties within the portfolio are all within a two-mile radius of each other and are within walking distance from the University of Chicago. Units across the properties consist of primarily two- and three-bedroom units approximately 1,166 square feet in size on average and currently rent at 40 percent below market rate.