01.17.20
Connect Media: South Shore Apartment Trio Sets Pricing Record
Kiser Group recently brokered 7500 S. South Shore, 6916 S. Clyde and 7038 S. Chappel as a 208-unit apartment portfolio. The apartments in the South Shore neighborhood sold for $18,400,000, representing the largest sale by dollar amount in the submarket in the past 15 years, according to CoStar.”
A Kiser Group team of Noah Birk and Aaron Sklar represented seller, DAX Real Estate, and an undisclosed buyer.
“At over $88,000 per unit, this one of the highest price per door sales in South Shore,” said Sklar. “Early investors are already enjoying the returns of the appreciating neighborhood
Birk added, “The South Side continues to be one of the rare places in the country that offers investors exceptional cash flow as well as buildings that have rapidly been appreciating in value. That rare combination has continued to push out-of-state buyers into our market.”
