11.17.20
Kiser Group’s Birk | Sklar team closes seven South Side multifamily transactions in 30 days
Kiser Group’s Birk | Sklar team recently brokered the sale of 6754 S. Cornell Avenue in Chicago. The 12-unit building sold for $1,400,000, setting a South Shore neighborhood price-per-unit record for an apartment sale.
Partner Noah Birk and partner Aaron Sklar represented both the buyer and seller in the transaction. The team sold six additional buildings in the last month and have another 14 deals under contract.
“We love seeing investment dollars pour into the South Side,” said Birk. “If you would have told me about this price-per-unit a couple of years ago, I would not have believed it. With a supply of newly renovated units on the market throughout the South Side, we’ve been blown away by the continued appreciation in the market.”
Another South Shore deal involved 7700 S. Jeffery Boulevard, a 26-unit apartment building that sold for $1,250,000. A 10-unit apartment building in the Back of the Yards, 718-728 W. 50th Street, sold for $990,000—a price-per-unit record for the neighborhood.
Other deals included 7006 S. Cregier Avenue, an 11-unit asset in Jackson Park that sold for $855,000 and 1528 N. Avers Avenue, a six-unit building in Humboldt Park that sold for $710,000. Two properties in the Greater Grand Crossing neighborhood also sold: the 12-unit 7257 S. Princeton Street traded for $585,000 and the six-unit 6842 S. Perry Avenue sold for $380,000.
“Our team has been incredibly active throughout the pandemic and are on pace to have our best year,” said Sklar. “As more out-of-state and international investors continue to enter the market, we continue to see more and more record breaking deals.”
Members of Kiser Group’s Birk| Sklar team include Noah Birk, Aaron Sklar, Jack Petrando, Justin Turner, Austin Parker and Michael Yangas.