Chicago, IL (August 17,2017) – The Laramar Group, a national real estate investment and management company, announced today that they have purchased 800 W. Lill Avenue as part of their Local by Laramar platform.
800 W. Lill Ave is a 21-unit property located in a premier Lincoln Park neighborhood, just a few blocks from the Lake Michigan and near DePaul University. This asset is currently a condominium association, and Laramar is in the process of de-converting the property into a rental, multi-family building. This acquisition now brings the Local by Laramar portfolio up to 53 properties in Chicago across desirable neighborhoods such as Lincoln Park, Bucktown, Hyde Park, Andersonville and many others.
“Our Local platform of small neighborhood buildings continues to expand in Chicago,” said Ben Slad, VP of Acquisitions for Laramar. “We continue to see strong interest from millennials and other demographics for these close-in neighborhoods due to the wide range of restaurants, shops, and entertainment venues. 800 W. Lill is the perfect addition to our Local portfolio given its proximity to thriving retail, beautiful parks, and convenient public transportation.”
The Laramar Group, founded in 1989 and with corporate headquarters in Chicago and property management headquarters in Denver, is a national real estate investment and management company with more than 600 employees across the U.S. With an established strategy of pursing value-add investments in multi-family real estate on a national basis, The Laramar Group and its predecessor company have invested roughly $3 billion throughout the United States and currently owns and/or manages in excess of 15,000 units and over 1M square feet of retail assets. For each of its own investments, The Laramar Group oversees all renovation program – from concept to construction – and property management. For more information, please visit www.laramargroup.com