Kiser Group’s brokers, John George and Joe Bianchi, have successfully facilitated the sale of a $4M portfolio in the Chicago Lawn neighborhood. The portfolio consists of four adjacent buildings, offering immediate economies of scale in one of Chicago’s rapidly appreciating southwest neighborhoods.
According to Bianchi, “Chicago Lawn offers residents the convenience of living close to downtown with a suburban feel. The area is primarily composed of single-family homes and exudes the charm of a suburban neighborhood.”
The 53 unit portfolio boasts an optimal unit mix of 7 one-bedroom units, 34 two-bedroom units, 10 three-bedroom units, 1 four-bedroom unit, and 1 five-bedroom unit. Although five of the units are nonconforming, all are currently occupied and fully tenanted.
“Despite the uncertain market conditions and rising interest rates, Chicago Lawn has demonstrated strong stability and a continuous increase in price per unit across the multifamily sector,” said Bianchi. “The southwest region of Chicago continues to attract out-of-state capital due to promising returns, scarcity of available assets, and increased development throughout the area.”
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