Kiser Group Brokers Aaron Sklar and Noah Birk Successfully Close 7042 S Michigan Avenue Property in Grand Crossing

Kiser Group is pleased to announce the successful closing of the multi-family property located at 7042 S Michigan Avenue in the Grand Crossing neighborhood. The property was sold for $1,800,000, which equated to nearly a 9% cap rate on current figures. This well-maintained and stabilized asset provides an excellent opportunity for the buyer to expand their existing portfolio in the area.

The 7042 S Michigan Avenue property consists of units that have all been renovated within the last ten years, ensuring a modern and attractive living environment for tenants. The property was nearly fully occupied at the time of sale, reflecting its desirability and the effective management by the previous owner.

Grand Crossing is a neighborhood on the rise, benefiting from ongoing revitalization efforts and new development projects. Investments in infrastructure, public spaces, and housing are gradually enhancing the area’s appeal, making it an increasingly attractive destination for both residents and investors. The neighborhood offers convenient access to major roadways and public transit options, including bus routes and train stations, making it an ideal location for commuters.

Nestled on a quiet street amidst an abundance of single-family homes, 7042 S Michigan Avenue is a well-run, cash-flowing asset with additional opportunities to add value through various cosmetic upgrades. The property attracted significant interest, with numerous tours and offers leading to a quick close.

“This transaction underscores the growing demand and potential in the Grand Crossing area,” said Aaron Sklar, Broker at Kiser Group. “The property’s strong occupancy and stable cash flow made it an appealing investment for the buyer, who is looking to build on his existing portfolio in the neighborhood.”

Noah Birk, also a Broker at Kiser Group, added, “We are thrilled to have facilitated this transaction for both the buyer and seller, both of whom are larger, long-term owners in the area. The property’s condition and location made it a perfect fit for the buyer’s portfolio expansion.”

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