04.07.20
Multifamily Biz: Kiser Group’s Noah Birk and Aaron Sklar Broker Sale of 398 Apartment Units Throughout Chicago’s Southside in Q1 2020
CHICAGO, IL – Kiser Group’s Partner Noah Birk and Senior Director Aaron Sklar have closed the sale of 398 units and 12 buildings for $27 million throughout Chicago’s south side neighborhoods so far this year. The team focuses their brokerage efforts in south side neighborhoods such as such as South Shore, Woodlawn, Chatham and Auburn Gresham.
“We are seeing the demand for south side buildings outpace the supply, which has really driven the prices on these assets higher,” said Birk. “This competitive buying environment has yielded some eye-popping results.”
“Despite the onslaught of COVID-19 concerns at the end of the first quarter, buyer interest remains at elevated levels,” said Sklar. “We have numerous deals in escrow, we put several more under contract during the last few weeks of March, and we’ve listed new buildings that we’ll bring to market in April. We’re optimistic the second quarter of 2020 will be even stronger than the first.”
Notable Q1 Transactions:
- Jackson Park-South Shore Drive Portfolio (7500 S. South Shore Dr., 6916 S. Clyde Ave and 7O38 S. Chappel Ave) sold for $18,400,000. Birk and Skar represented both the buyer and seller of the 208-unit portfolio.
- 7420 S. Colfax Ave. Chicago, a 27-unit South Shore apartment building sold for $2,025,000. Birk and Sklar represented both the buyer and seller.
- 7042 S. Michigan, a 32-unit Greater Grand Crossing apartment building that sold for $1,100,100. Birk and Sklar represented both the buyer and seller.
- 7254 S. Jeffery, a 34-unit South Shore apartment building that sold for $1,150,000. Birk and Sklar represented both the buyer and seller.
- 7251 S. Phillips, a 36-unit South Shore apartment building that sold for $1,740,000. Birk and Sklar represented both the buyer and seller.
About Kiser Group: Kiser Group is Chicagoland’s leading multifamily brokerage firm. As the leader in our space, Kiser Group provides multifamily expertise to help our clients’ maximize value in their Chicagoland real estate investments. We equip our brokers with best-in-class staff and resources that are focused on their needs. Learn more at www.kisergroup.com
