Kiser Group, Chicago’s leading multifamily brokerage firm, advised on the sale of 820-822 Reba Place, a 12-unit multifamily property, in Evanston, Illinois. 820-822 Reba Place sold for $1,675,000 with Director Matt Halper, Advisor Danny Mantis, and Principal and Managing Broker Lee Kiser representing both the buyer and seller.
“Many tenants were paying below market rents, creating considerable upside for the buyer as leases turn over, without significant capital investments and unit upgrades,” said Mantis. “Despite COVID, interest in multifamily assets in Evanston has remained strong with no detrimental impact on values.”
The Reba Place apartment property offers a unit mix of six one-bedroom and six two-bedroom units and is located four blocks south of Main Street between Chicago Avenue and Ridge Avenue.
“The property is situated less than half a mile away from the Main Street Purple Line stop and the Main Street Metra stop, offering residents convenient access to Evanston’s bustling downtown district with multiple shopping and dining options,” said Halper.