**Silver Property Group Acquires Final Asset in $22.3M Vintage Chicago Portfolio**
Chicago-based real estate firm Silver Property Group (SPG) has completed the acquisition of a 20-unit vintage apartment building located at 2200 N. Avers Ave. in Chicago’s Avondale neighborhood. This purchase marks the final property in a six-building portfolio transaction totaling $22.3 million.
Originally failed condo conversions, all six properties were purchased from Pioneer Acquisitions, a New York-based investment firm, which had acquired them from distressed ownership. Despite their troubled past, the buildings feature high-quality condo-level finishes. The transactions were brokered by Joe Smazal of Interra Realty.
Since 2012, SPG and its affiliated LLCs have acquired 100 buildings and currently manage more than 1,600 residential units across Chicago, Evanston, and Highland Park. The firm remains focused on acquiring vintage multifamily buildings and is actively expanding its property management operations.
“Neighborhood multifamily buildings are a very competitive asset class,” said Ron Abrams, founder and principal of SPG. “The ability to buy at less than replacement cost is very attractive.”
In related news, industry leaders are gearing up for the Connect Midwest Multifamily 2025 event, taking place on June 4, 2025, at The Midland Hotel in Chicago. The conference will feature the Lifetime Achievement Award Presentation and a keynote interview with Greg Mutz, Chairman & CEO of Amli Residential Partners, LLC, conducted by Fred Schreiber, Chief Operating Officer.
Registration is now open for those looking to connect with peers and stay informed on the latest in Midwest multifamily investment.
