CHICAGO, IL – Kiser Group, Chicago’s leading mid-market multifamily brokerage firm, recently brokered a four-building portfolio and three other multifamily buildings on Chicago’s south side. With the second quarter closed, Senior Director Noah Birk and Director Aaron Sklar have 30 buildings either sold or under contract throughout south side neighborhoods.
“The values of apartment buildings on the south side have appreciated rapidly, and sale velocity is not slowing down,” said Senior Director Noah Birk. “Looking at sale data of the nearly 80 south side apartment buildings we’ve sold in the last 18 months, we’re seeing a significant trend of out-of-state investors being attracted to this market.”
Birk and Sklar represented the seller, local real estate developer Foreit Properties, of a $1,650,000 32-unit South Side Portfolio with properties located at 7754 S. Colfax Avenue, 7830 S. Essex Avenue, 8109 S. Colfax Avenue, and 8121 S. Colfax Avenue.
Birk and Sklar represented both the buyer, Nicki Enterprises, and seller, a local developer, in a 6-unit building located at 5728-30 S. Indiana Avenue, which sold for $489,500.
Birk and Sklar represented both the buyer, Chicago Shore Fund, and seller, Ash Realty in a 13-unit building located at 6500-02 S. Cottage Grove Avenue, which sold for $420,000.
Birk and Sklar represented the seller, Ash Realty, in a 6-unit Englewood building located at 7250 S. Yale today, which sold for $260,000.
“Activity on the south side keeps increasing – both on touring properties and the amount of offers we receive,” said Director Aaron Sklar. “Ultimately, the increase in demand continues to boost prices while still providing attractive opportunities for all parties involved.”