CHICAGO (May 2022) Kiser Group Directors Danny Mantis and Matt Halper, and Managing Broker Lee Kiser recently closed on two significant Evanston properties totaling more than $9M. The properties at 1901 Sherman Avenue and 1326 Chicago Avenue sold for $5.1M and $4.05M, respectively.
1901 Sherman Ave. includes 12 three-bedroom units and is situated on the northeast corner of Sherman and Emerson, directly across the street from Northwestern University. Kiser Group Director Danny Mantis describes this property and its location as “unique and highly desirable.” Mantis believes it is the building’s location that makes it truly special.
“While there are other, larger apartment buildings in the area, the proximity to Northwestern’s campus makes this an A++ location in Evanston,” Mantis said.
Due to the close proximity to campus, the seller of 1901 Sherman has enjoyed 100% occupancy in the building for decades.
The second of the two Evanston properties, 1326 Chicago Ave., was sold by Danny Mantis and Matt Halper. The 15-unit property sold at $270,000 per unit, in an off-market deal. 1326 Chicago Ave. comprises 14 two-bedroom units, and one three-bedroom unit. The building is a 4+1 style property, offering office space on the ground floor with all 15 units located above.
Kiser Group Director Matt Halper explains that there is typically low transaction velocity in such desirable, prominent locations. “When something becomes available, savvy investors recognize the value of the property and its location,” Halper said. “Where we come in is not only recognizing the quality of the asset, but also having key relationships to satisfy these qualified investors.”
Read more at The Chicago Business Journal.