Kiser Group has listed 2036 S. Michigan Ave., a mixed-use development in Chicago’s South Loop, for $32.5 million. The listing is being marketed by Kiser Group partners Noah Birk and Aaron Sklar and principal and managing broker Lee Kiser.
“An investment at 2036 S. Michigan Ave. is a once in a decade opportunity and includes a compelling cap rate, value-add potential, and immediate scale in Chicago’s booming South Loop neighborhood,” said Birk. “With its proximity to major thoroughfares and McCormick Place, residents and commercial tenants enjoy having a marquee Michigan Avenue address, an easy commute throughout the city and ample restaurants, fitness centers and retail within walking distance.”
Located on the historic Motor Row, the property was entirely renovated from 2016 to 2017. Comprising 68 residential units, the residential unit mix includes 16 three-bedroom/two-bathroom units, 47 two-bedroom/two-bathroom units, and five studios.