"Despite the volatile national economy, Chicago apartmentsremain sound investments," opines Estella Kiser, senior associatewith Marcus & Millichap Real Estate Investment Brokerage Co.,which was the sole broker in the Rogers Park deal. "The property iswell-located in its submarket and has been extensively renovated,creating a solid long-term investment."

Market conditions helped Inland Real Estate Sales, Inc. achievea sales price of $88,000 per unit for 525 W. Oakdale St., extremelyhigh for a "four-plus-one" building. Built in the 1960s and '70s,four-plus-ones feature off-street, covered parking at ground levelor slightly below grade, with four stories of rental units startingat the second floor. While not necessarily the first choice ofinvestors, the product type's popularity has grown as parkingbecomes increasingly scarce, Inland brokers note.

"The main advantage to this type of building in this location isthe availability of parking," says senior broker Ronald Traub, whoco-brokered the deal with Inland sales associate Galina Patterson."Since parking in the Lakeview area is in short supply, theoff-street, enclosed parking that comes with the building is almostinvaluable."