CHICAGO, IL - Kiser Group’s Partner Noah Birk and Senior Director Aaron Sklar have brokered 358-units and 19 buildings throughout Chicago’s south side neighborhoods in 2019. The south side duo focuses their brokerage efforts in south side neighborhoods such as Chatham, Marquette Park, South Shore and Woodlawn.
“So far in 2019, interest levels and activity for multifamily product in Chicago’s South Side neighborhoods have been at an all-time high,” said Partner Noah Birk. “While many may think it has to do with Opportunity Zones, we do not see that investment strategy moving the needle. Rather, investors that are priced out of other markets are moving their capital into these neighborhoods because of attractive cash-on-cash returns and appreciating property values.”
Recent Transactions By Neighborhood:
South Shore: Birk and Sklar represented the buyer and seller of 3075 E. Cheltenham, a 60-unit building in the South Shore neighborhood, which sold for $1,975,000. Kiser Group’s Marco Cesario represented the buyer. “This 60-unit building was a rare opportunity to acquire a nearly vacant building and redevelop it into affordable, luxury apartments,” said Birk; Birk and Sklar represented the buyer and seller of a $1,500,000, 43-unit property at 6943 S. Cornell in the South Shore neighborhood; Birk and Sklar represented the seller of 7514 E. Essex, an 8-unit building in the South Shore neighborhood, which sold for $$610,000.
“Along the lake, interest continues to remain sky high, and there is no shortage of investors looking to acquire stabilized buildings in one of the most developing and appreciating neighborhoods in Chicago,” said Sklar. “Out of state investors see the lake, golf course and Jackson Park as neighborhood amenities that will drive property values.”
Bronzeville: Birk and Sklar represented the buyer and seller of a $600,000, 13-unit building located at 4238 S. Cottage Grove in the Bronzeville neighborhood.
Chatham: Birk and Sklar represented the buyer and seller of 7852 S. Eberhart in the Chatham neighborhood. The building includes 37 unit and sold for $1,095,000; Birk and Sklar represented the buyer and seller of an $896,000, 31-unit building located at 8118-26 S. Drexel in the Chatham neighborhood; Birk and Sklar represented the buyer and seller of 7914 S. Dobson in the Chatham neighborhood. The building includes 13 unit and sold for $625,000; Birk and Sklar represented the buyer and seller of a $315,000, 11-unit building located at 8935 S. Dauphin in the Chatham neighborhood.
Englewood: Birk and Sklar represented the buyer and seller of 6351 S. Loomis, a 15-unit building in Englewood that sold for $670,000.
Greater Grand Crossing: Birk and Sklar represented the buyer and seller of a $2,700,000, 31-unit building located at 7816 S. Cornell in the Greater Grand Crossing neighborhood.v“This is one of the highest price per unit buildings ever recorded in this neighborhood of South Shore,” said Birk.
Jackson Park Highlands: Birk and Sklar represented the buyer and seller of 6940 S. Oglesby, a 19-unit building in Jackson Park Highlands that sold for $1,350,000.
Marquette Park: Birk and Sklar represented the seller of 7146 S. Claremont in the Marquette Park neighborhood. The building includes 15 unit and sold for $615,000; Birk and Sklar represented the buyer and seller of 7256 S. Artesian, a 13-unit building in Marquette Park that sold for $430,000; Birk and Sklar represented the buyer and seller of 2614 W. Marquette in the Marquette Park neighborhood. The building includes 8 unit and sold for $430,000; Birk and Sklar represented the buyer and seller of 2535 W Marquette in the Marquette Park neighborhood. The building includes 12 unit and sold for $410,000; Birk and Sklar represented the buyer and seller of 2448 W. Marquette, an 8-unit building in Marquette Park that sold for $337,500.
South Chicago: Birk and Sklar represented the buyer and seller of 8131 S. Kingston in the South Chicago neighborhood. The building includes 7 units and sold for $329,000.
Washington Park: Birk and Sklar represented the seller of a $475,000, 43-unit property at 5840 S. Calumet in the Washington Park neighborhood.
Woodlawn: Birk and Sklar represented the seller of 6600 S. Champlain in the Woodlawn neighborhood. The building includes 8 units and sold for $380,000.
About Kiser Group: Kiser Group is one of Chicago's most active and prominent commercial real estate brokers, specializing in the sale of Chicagoland apartment buildings. We assist private investors and property owners with the sale or purchase of both stabilized and value-add multi-family properties. Using proprietary market data, we provide extensive, in-depth knowledge of Chicago’s neighborhoods and surrounding suburbs, maximizing value on behalf of our clients. Kiser Group’s professionals bring an innovative, dynamic perspective to mid-market multifamily real estate.