Logan Square Apartment Building Fetches $4.2 Million

November 21, 2014, Crain’s Chicago Business – Sale – Randolph Street Realty Capital paid $4.2 million for a 15-unit apartment building at 2000 N. Milwaukee Ave. in Logan Square. The Chicago investment firm bought the property from a venture of neighborhood apartment owner Martin Heilmann, who acquired it for $3.3 million last year. “It’s in between Logan (Square) and Bucktown, and we’re a believer in the neighborhood,” said Randolph Street co-founder Jonathan Saliterman.

The two retail spaces are filled by pet groomer Groomer’s Corner and home remodeler MK Construction & Builders Inc., and most of the apartments are leased, Saliterman said. Randolph Street was backed by a $3.15 million loan from MB Financial Bank. Heilmann, whose Chicago-based apartment firm is called By the Blue Line, did not respond to requests for comment.