Pegasus, a national commercial real estate advisory firm, announced the disposition of an eight-building, 94-unit multifamily portfolio in Chicago’s Rogers Park neighborhood. The portfolio traded for $10.8 million to a seasoned local operator with a significant footprint in the submarket.
The portfolio included eight contiguous apartment buildings totaling 94 units located at 6705 to 6737 N California Avenue. Pegasus was engaged by the seller, a California-based family office who inherited the asset in 2024, to provide strategic oversight throughout the sales process. Katherine Weaver of Pegasus served as the firm’s lead advisor.
The portfolio attracted strong investor interest due to its scale, a rare offering among garden-style assets in Rogers Park. Recent capital improvements, coupled with assumable interest-only CMBS financing, further enhanced the opportunity’s appeal. The buyer, a Chicago-based multifamily operator completing a 1031 exchange, intends to self-manage the properties and pursue additional renovations and lease-up initiatives.
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