Kiser Group partners Aaron Sklar and Noah Birk, along with advisor Jack Petrando, have recently listed an attractive portfolio of 644 units, located in rapidly growing areas of Chicago. The portfolio consists of 204 units in Washington Park, Chatham, and South Shore, and 440 units in Austin, Lawndale, and Garfield Park on the Westside.
The mix of newly renovated and value-add units in the portfolio offers a range of options to potential buyers. With around 80% occupancy, the properties provide a stable investment opportunity. The location of the properties, close to daily conveniences and with easy access to transportation, adds to their appeal.
“Not only is it rare to acquire a portfolio anywhere of this size, but there is also assumable debt at both attractive loan-to-value levels and record low interest rates,” said Sklar. “This portfolio offers an investor immediate scale in strong neighborhoods with the ability to capitalize on economies of scale and the ability to optimize income through improved leasing and management.”
These properties are situated in areas that are rapidly growing, with the city investing over $750 million in new developments and investments in the community. In addition, the properties offer higher returns on investment for owners compared to other neighborhoods in Chicago, with a lower cost of entry, and areas appreciating year over year.
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