CHICAGO, IL – Kiser Group, Chicago’s leading mid-market multifamily brokerage firm, brings Millennium Lofts to the market. Originally built as a pillow factory in 1940, the 34-unit apartment building has an average apartment size of 1,302 square feet. The listing team for the 1900 S. Clark St. asset includes Kiser Group Broker Aaron Sklar and Broker Associate Michael Feldstein.
“Millennium Lofts offers development and value-add opportunities via multiple avenues. An adjacent parking area offers the opportunity and right zoning to construct an additional 74,000 square-foot building,” said Broker Aaron Sklar.
“There is also a 16,700 square-foot parking area that offers development potential, and 5,135 square feet of existing commercial space that can be reconfigured for optimum profit or used in part to add amenities like a fitness center,” said Broker Associate Michael Feldstein.
Millennium Lofts has numerous features that add to the appeal of a South Loop development. The closest ‘L’ stop is a three-minute walk from the front door of the Property, making the asset qualify for development bonuses available through Chicago’s TOD ordinance.