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Chicago-based KMA Companies and Property Management has added to its multifamily managed portfolio with the acquisition of The Topaz, formerly known as Low Line Commons. The 53-unit property, located at 3421 N. Ashland Avenue in the city’s Lakeview neighborhood, was purchased for $17.150 million.

The acquisition was made by Whitewater Management Holdings LLC, KMA’s affiliated investment fund. The sale was brokered by Nate Gautsche and Sean Mason of Chicago Real Estate Resources. Debt was provided by Kyle Kalkofen and Melissa Ambrose at JP Morgan Chase. The seller was Wildwood Investments LLC. 10% of units are designated as affordable at 60% AMI under Chicago’s Affordable Requirement Ordinance.