Kiser Group’s brokers, John George and Joe Bianchi are pleased to announce the successful closing of 5338 S. Kenneth Ave in the vibrant neighborhood of West Elsdon. This notable transaction marks a record-breaking price per unit for the neighborhood, further showcasing the growing demand in the Southwest neighborhoods of Chicago.
The final price for the property was $750,000, reflecting the strong potential for appreciation in the area. With a current occupancy rate of 100%, this property demonstrates its attractiveness to investors seeking stable income streams.
Situated just minutes from Midway airport, West Elsdon boasts a unique charm. Unlike many other neighborhoods in the area, West Elsdon has limited multifamily buildings, primarily consisting of single-family homes. This rarity makes the acquisition of 5338 S. Kenneth Ave an exceptional opportunity for the buyer.
“The Southwest side of Chicago is experiencing remarkable growth, with notable demand from out-of-state investors seeking high returns,” said Bianchi. “5338 S. Kenneth Ave perfectly aligns with the market trends we are witnessing, and its immediate contract after hitting the market underscores its desirability.”
Click here to read the full story by Multifamily Biz.
Click here to read the full story by Connect CRE.