Multifamily N Illinois

Kiser Group closes $2.5M South Shore apartment deal

Mid-market multifamily brokerage firm Kiser Group recently brokered a $2.5 million deal at 7001 S. Chappel Avenue in Chicago’s South Shore neighborhood. The 22-unit deal was brokered by Kiser Group’s senior director, Noah Birk, and director, Aaron Sklar. A California-based investor purchased the portfolio from a local owner.

“At $113,000 per unit, this is the highest price per unit by a decent margin we’ve seen in South Shore,” said Birk.

“In the deals we’ve recently been involved in, there has been an uptick in out-of-state investor interest,” Sklar said. “Not only is the cost of entry lower than neighboring areas on the north side, returns seen on the south side are nearly double.”