Levy House, a 57-unit, seven-story apartment building located at 1221 W. Sherwin Ave. in Chicago’s East Rogers Park neighborhood, has sold for $8,100,000. Affordable Housing Investment Brokerage partnered on the listing with Kiser Group so the seller had the benefit of AHIB’s expertise in affordable housing and Kiser Group’s mid-market multifamily expertise in Rogers Park.
Kyle Shoemaker, managing director of AHIB, represented the buyer, Preservation of Affordable Housing (POAH), and the seller, a not-for-profit.
“This is a wonderful property and a great opportunity for us to preserve affordable housing in a rising real estate market,” said Konrad Schlater, POAH’s project manager. “We’re excited to be working in Rogers Park and adding to our growing North Side portfolio.”
POAH will work with the City of Chicago and Chicago Housing Authority to expand the property’s affordability and execute a rehab and modernization plan. POAH now owns roughly 2,000 apartment units in Chicago.