CHICAGO (JUNE 21, 2022) – Kiser Group’s Birk | Sklar Team recently closed on two south side portfolios, totaling nine properties and over 140 units. These record-breaking transactions took place in Chicago’s Marquette Park and Chatham Neighborhoods within one week.
Birk | Sklar’s Marquette Park Portfolio consists of the following properties:
- 7146 S Claremont (15 units)
- 2164 W Marquette (8 units)
- 7256 S Artesian (13 units)
- 2448 W 68th (8 units)
The portfolio sold for $2.675 million on June 13, 2022. According to CoStar, this is the largest multifamily transaction in Marquette Park in 2022. Kiser Group Partner, Noah Birk details the trends he is seeing in the neighborhood. “Marquette Park is seeing a huge increase in investor interest. Prices are increasing and time on market is certainly decreasing. There’s been incredible demand for quality, stable, cash flowing assets in the area,” Birk said.
The second portfolio transaction took place in Chicago’s Chatham neighborhood. The properties comprise almost 100 units, and sold for $5.2 million on June 17, 2022. According to CoStar, the Birk | Sklar Team’s five-property transaction in Chatham is the largest multifamily sale in the neighborhood in five years.
The Chatham Portfolio consists of the below properties:
- 7851 S Indiana Ave (26 units)
- 8157 S Martin Luther King Drive (14 units)
- 7953 S St. Lawrence Ave (19 units)
- 8016 S Evans Ave (25 units)
- 7942 S Champlain Ave (13 units)
Aaron Sklar describes why the Chatham portfolio was so appealing to the buyer. “The buyer was attracted to the number of buildings all within a close proximity to one another. They’re able to capture an immediate market presence while also taking advantage of economies of scale in one of Chicago’s most promising south side neighborhoods,” Sklar said.
Read the full Birk | Sklar Team stories by the Chicago Business Journal, and Connect CRE.