CHICAGO, IL - Kiser Group, Chicago’s leading multifamily brokerage firm, recently represented the buyer and seller of Park Beach Apartments, located at 5327 S. Cornell Ave. in the Hyde Park neighborhood. The 77-unit Single Room Occupancy (SRO) building sold for $2,200,000. Jimal Gilbert and Lee Kiser were the brokers in the transaction.
“Park Beach Apartments offers the buyer the opportunity to own a stabilized building with seasoned staff in a highly-sought rental location. The buyer will continue operating the property as an SRO, providing needed affordable housing in Hyde Park,” said Jimal Gilbert, Advisor at Kiser Group. “Because the property addresses affordable housing, the transition between owners required approval from the City of Chicago. We are truly grateful for the speed and transparency with which the City engaged. They went above and beyond helping us complete this transaction.”
Park Beach Apartments includes 27 private bathroom units and 50 semi-private units.
View all of Kiser Group’s available inventory at www.kisergroup.com
About Kiser Group: Kiser Group is Chicagoland’s leading commercial real estate brokerage firm specializing in the disposition of multifamily, mixed-use and development parcels. Founded in 2005, Kiser Group works with diverse owners and investors to value, market and close commercial properties successfully. The firm’s unmatched combination of experience, market intelligence and track record makes Kiser Group the go-to broker for the Chicago metropolitan area.