Kiser Group’s Advisor Katie LeGrand and Jacob Price have recently listed a total of three multifamily properties in the Edgewater area, offering investors the opportunity to own prime real estate in the city. The properties are located in a popular neighborhood and are expected to draw a lot of interest from buyers.
6211 N. Kenmore, listed at $5,500,000, is a building that attracts students with proximity to Loyola. Rents are currently 18% under market, and a new owner would be able to capitalize on the school leasing season with over 70% of units turning this summer. There is attractive assumable debt available with this opportunity with an interest rate of 4.14%.
6000-02 N. Winthrop, listed at $8,600,000, is a building that still attracts some of the student population from Loyola even though it is a few blocks off-campus. The building was renovated to include new windows, and the courtyard feel is attractive to renters. The property boasts an attractive unit mix of 1 bed and 2 beds.
5710 N. Winthrop, listed at $7,400,000, is located in the desirable Edgewater neighborhood, just 6 miles north of the Loop. The location has historically been attractive to renters given the proximity to the lake, walkability as well as proximity to downtown. The building is located on a nice residential street.
“Market trends in the Edgewater neighborhood suggest that there is low inventory for this type of product, making these listing all the more special,” said LeGrand. “These transactions are expected to attract significant interest from investors and dictate future prices for the area” said Price.
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