Kiser Group advised on the $10.25-million sale of Graceway Corners, a three-story mixed-use development in the North Side’s Lakeview neighborhood. Advisors Andrew Friedman and Jake Parker along with principal and managing broker Lee Kiser represented both the seller, Keen Realty, and an undisclosed buyer.
“Opportunities to purchase properties like Graceway Corners arise infrequently,” said Kiser. “The location and several value-add strategies resulted in a large number of investors touring and making offers. We began marketing this property last July, arguably at the height of uncertainty in the market, and in a three-week time frame completed 45 tours resulting in nine offers.”
Friedman added, “Financing has been difficult during the pandemic. In this deal, we were presented unique challenges, especially due to the large proportion of retail. We are thankful to Dean Huber and the team at Walker & Dunlop for going above and beyond to procure the loan.”