Chicago-based multifamily owner and operator, Becovic Residential, has recently expanded its Edgewater portfolio with the acquisition of two apartment communities. The Winthrop House, located at 5718 N. Winthrop and Kenmore Commons property at 6134 N. Kenmore were purchased for $10.25 million and $7.25 million respectively.
Interra Realty’s Joe Smazal facilitated the deals while Scott Kalkofen from JP Morgan Chase provided financing for them.The properties will be managed by Becovic Management Group who expressed their excitement about adding these turnkey properties to their offerings in the heart of Edgewater.
The historic Winthrop House built in 1929 offers 74 renovated units including studios while the five-story Kenmore Commons boasts modern kitchens across its 40 units.”These two buildings perfectly embody the charm of Edgewater,” stated Lee Grin, Director of Operations at Becovic Management Group.”We are delighted to manage them alongside our other thriving communities in this neighborhood.”
This recent acquisition marks another successful addition to Becovic Residential’s growing portfolio as they continue to expand their presence in Chicago’s multifamily market.
