Silver Property Group recently completed the acquisition of a 263-unit apartment portfolio in East Rogers Park for $45 million.  

The Chicago-based real estate firm purchased the six buildings from Jennifer Pritzker’s TAWANI Property Management in what it called one of the most significant neighborhood-level transactions of the year. 

“These buildings are irreplaceable assets in one of Chicago’s most vibrant and diverse neighborhoods,” Silver Property Managing Partner Ron Abrams said. “If you were to rebuild these properties today, the replacement cost would easily exceed $100 million, and zoning restrictions, neighborhood groups and economic realities would make it virtually impossible.” 

The portfolio includes several architecturally significant buildings, especially Farcroft Park at 1337 W. Fargo Ave. The 13-story, 84-unit tower was built in 1928, renovated in 2013 and offers lakefront views. 

The other buildings are the 50-unit 1323 W. Morse Ave., 13-unit 1334 W. Morse Ave., 52-unit 1373 W. Greenleaf Ave., 41-unit 1344 W. Lunt Ave. and 23-unit 1441 W. Jarvis Ave.  

Brokers Brian Semel and Connor Loughlin of 95 Realty advised Silver Property on the deal, while JP Morgan Chase’s Matthew Cohen and Jose de la Garza arranged financing.