Kiser Group has brokered a $15M portfolio in the UIC Medical District. The seller University Rentals UIC sold the property to Bay Laurel Partners in an off market deal.The portfolio is strategically located in close proximity to UIC and Rush hospitals.
The portfolio comprises a mix of 25 two-bedroom one-bathroom units, 9 three-bedroom two-bathroom units, 7 three-bedroom one-and-a-half-bathroom units, and 7 two-bedroom two-bathroom units, offering a diverse range of housing options.
The acquisition of this portfolio offers Bay Laurel Partners an opportunity to establish a significant presence in the UIC Medical District, which is a challenging neighborhood to become a large owner. This deal also sets a new benchmark for the price per door for a value-add property in the UIC Medical District, according to associate Will Cornish.
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