08.01.19
Connect Chicago: Auburn Gresham Apts. Fetch Highest Price Per Unit
Kiser Group’s Noah Birk and Aaron Sklar recently brokered the sale of 8301 S. Paulina, which reportedly fetched the highest price-per-unit to date for an Auburn Gresham apartment property. JVB Holdings Chicago LLC purchased the 26-unit property for $2,425,000, or $93,265 per unit.
“Investors are looking for stabilized, renovated units on the south side of Chicago,” said Birk. “Auburn Gresham has a limited supply of renovated apartment units allowing the seller to claim higher than average rents for the area resulting in a record-breaking price per unit.”
The duo of Birk and Sklar focuses their brokerage efforts throughout Chicago’s South Side neighborhoods such as Auburn Gresham, Chatham, Marquette Park, South Shore, South Chicago and Woodlawn.
