New Englewood Terrace Apartments has been listed for sale by the Kiser Group. The 304-unit, 23-story building in Englewood is listed for $20,750,000 and represented by Kiser Group’s Noah Birk and Aaron Sklar. New Englewood Terrace Apartments are being marketed as a value-add investment opportunity.
“This is a rare opportunity to acquire over 300 units in an opportunity zone,” said Birk. “We are anticipating national investor interest, particularly from opportunity zone funds, for this value-add opportunity.”
The property was originally built in 1967 and renovated in 2010. Rents at this stabilized asset range from $625 to $1,050 per month.
“Englewood is a rapidly growing and developing neighborhood,” said Sklar. “New Englewood Terrace is within walking distance of Whole Foods, Starbucks, Chipotle, Kennedy King College and the CTA Green and Red lines.”
Across from Kennedy King is Englewood Square, a 5.5-acre retail center that opened in the fall of 2016.