The project is a departure for the firm, which specializes in being a "grocery store" for 1031 exchanges into single-tenant, net-leased properties. However, 77 of the 91 units at 2730-66 Hampton Pkwy. have been sold, with 45 of those closed and the rest expected to within the next 60 days, Kaplan reports.
Kaplan's group, called "Gocats" because of its view of the football practice field, bought the property more than a year ago for just under $8 million. Units are selling from $145,000 to $195,000, he says.
"It's a good first-time price for people who want to be in that location," Kaplan says.
Besides being a long toss from the Welsh-Ryan Arena and football stadium, the property is just south of the Evanston-Wilmette border.
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