CHICAGO–The robust market for residential properties in Chicago is beginning to have an impact far from the West Loop and other hot neighborhoods. The institutional partnership of Spirit Bascom Ventures, LLC, a joint venture between Spirit Investment Partners, LLC and The Bascom Group, LLC, has just purchased 5200 Sheridan Rd. in Edgewater from The Kopley Group for $21.6 million and plans to give the 8-story, 223-unit building a full rehab and renovation.