Kiser Group brokers Jacob Price and Katie LeGrand have successfully closed on 1553-55 W Hollywood, a remarkable $10.9 million off-market deal. This property, nestled in the heart of Andersonville, spans an entire city block and features a total of 76 apartments, ranging from studios to three-bedroom units. Additionally, the property includes 22 retail spaces.
“While this property was previously under contract with another buyer, we were promptly notified by the ownership that the deal had fallen through,” said Katie LeGrand, “We acted swiftly to assemble this new agreement. Several other brokers had expressed interest in the past, and we’re delighted to have had the opportunity to represent the buyer in finalizing this transaction, effectively removing this cherished legacy building from the market.”
Andersonville has been witnessing a surge in popularity among renters, with residents and Chicagoans alike drawn to the neighborhood’s eclectic mix of shops and restaurants along the Clark Street corridor. This transaction aligns perfectly with the neighborhood’s burgeoning trend, as it offers an unrivaled opportunity for new ownership to revitalize the vintage charm of the building, modernize its units, and introduce sought-after common amenities.
Commenting on the deal, Jacob Price stated, “Andersonville’s rental inventory predominantly comprises vintage properties with limited amenities. The new ownership’s vision is to reshape this narrative by preserving the property’s vintage character while enhancing unit quality and adding desirable amenities, catering to the evolving preferences of renters.”
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