Cedar Street Co. has acquired another distressed property in Edgewater. Destined for the FLATS Chicago portfolio spanning Rogers Park, Edgewater, and Uptown, the 40-unit building at 6134 N Kenmore Avenue will be "revitalized and rebranded as No. 6134" per the press release. Units will feature free wifi and washer/dryers. Cedar Street paid $2.375M for the 4+1 building, which endured a damaging fire last year leading to a short sale and a $1.3M loss over the 2008 sale price. FLATS Chicago has seven other rehab projects in the works of similar scale. [Cedar Street, previously]
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