Kiser Group Brokers Joe Bianchi and John George Close Two Multi-Family Properties in CHA Mobility Zones

Kiser Group is pleased to announce the successful sales of two multi-family properties in Chicago’s East Side and Morgan Park neighborhoods by brokers Joe Bianchi and John George. These transactions highlight the strong demand for properties within CHA Mobility Zones, designated by the Chicago Housing Authority (CHA) to provide housing solutions for families in low-crime areas with low poverty rates.

The first property, located at 9645 S. Avenue M, sold for $660,000 at $110,000 per unit. It boasts 100% occupancy and closed on September 13, 2024. This building features spacious 2-bedroom, 2-bathroom units and is fully updated mechanically with individual furnaces, electric hot water tanks, copper plumbing, and updated electric systems. Its location in a CHA Mobility Zone enhances its appeal to potential tenants.

The second property, 2511 W. 111th Street, sold for $730,000 at $122,000 per unit, also achieving 100% occupancy and closing on September 13, 2024. This property was listed on July 13, 2024. It offers an attractive unit mix of four 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, featuring a newer pitched roof, boiler, updated electric, and on-site coin laundry. Like the first property, it is situated in a CHA Mobility Zone, providing additional benefits for tenants, including apartment search support and a $500 grant for move-in expenses.

Joe Bianchi stated, “Both of these transactions are a testament to the increasing interest in properties located within CHA Mobility Zones. We have seen a steady demand for well-maintained, affordable housing, and these properties fit the bill perfectly.”

These properties exemplify the growing interest in CHA Mobility Zones, which have demonstrated resilience in the current real estate market. These transactions represent the 17th and 18th buildings sold in mobility zones by Bianchi and George in the past 16 months, underscoring their expertise in this segment.

John George added, “The CHA Mobility program offers significant advantages not just for tenants but also for investors looking for long-term opportunities in stable neighborhoods. We’re proud to facilitate these transactions and contribute to community development.”