Kiser Group Brokers Close Two Notable North Lawndale Sales, Highlighting Investor Interest in the Area

Kiser Group is pleased to announce the successful closing of two multifamily property sales in Chicago’s North Lawndale neighborhood, underscoring the area’s growing appeal among investors. Both deals, which closed within the last quarter, reflect North Lawndale’s continued appreciation and increasing demand for value-add multifamily opportunities.

1143 S. St. Louis Avenue Sold for $515,000

Kiser Group brokers Jack Petrando and Noah Clark recently closed the sale of 1143 S. St. Louis Avenue for $515,000, equating to $85,800 per unit. The fully occupied property, which was listed in May 2024, presented a strong value-add opportunity for the buyer, Doubles Realty LLC. With updated units and in-unit mechanicals, the property offers the potential for rental increases, enhancing its investment appeal.

The deal closed on September 27, 2024, and represents the fourth multifamily transaction in North Lawndale completed by Kiser Group this quarter. Investors continue to be drawn to the area’s rental demand and ongoing neighborhood growth. According to Advisor Noah Clark, “North Lawndale’s rising market trends, similar to Douglass Park, make it a hotbed for multifamily investments.”

1216 S. Albany Sold for $550,000

Kiser Group is also excited to announce the sale of a fully occupied multifamily property located on Douglass Park for $550,000, or approximately $91,600 per unit. This marks the second sale on the same block of Albany by Kiser Group this quarter, further demonstrating increasing investor interest in Douglass Park and its surrounding area.

Key to the property’s appeal were its spacious units, rental upside, and location directly on Douglass Park, providing tenants with easy access to green space. All mechanical systems were recently upgraded by the previous owner, meaning only cosmetic improvements are required to unlock further rental potential.

“This transaction highlights the growing interest in the Douglass Park area from both local and out-of-state investors,” said Jack Petrando, Kiser Group Director. “The prime park-side location, coupled with the value-add potential and recent capital expenditures, made this property particularly attractive.”

Both transactions reflect a broader trend of investor interest in North Lawndale and Douglass Park, driven by the neighborhoods’ appreciating markets and strong rental demand. Kiser Group brokers expect continued appreciation in these areas as investors capitalize on value-add opportunities and the potential for rent growth.

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