02.05.18
Multi-Housing News: Kiser Group Brokers Chicago Community Deal
By Roxana Baiceanu
Kiser Group has facilitated the transaction of a vintage community in Uptown Chicago. The firm’s Principal & Managing Broker Lee Kiser together with Broker Associate Rick Ofman represented the seller, 4070 Kenmore Corp., in the $3.6 million deal. The buyer of the 41-unit asset was a local landlord.
“There continues to be strong interest from investors in true value-add communities in Uptown, despite the expected delivery of thousands of units throughout the city,” said Ofman in a prepared statement. Last year in November, Ofman was also part of the team of brokers that closed another 41-unit vintage property deal in Uptown Chicago.
Located at 4070 N. Kenmore St., in the Buena Park neighborhood, the community originally functioned as a hotel back in the 1920s. It was later adapted to a vintage, micro-unit asset featuring studio floorplans. The property is within steps from Challenger Park and a few blocks from Wrigley Field and Thorek Memorial Hospital. Residents can also access Montrose Beach within a short walk. The two main city airports, O’Hare International and Midway International, are approximately half an hour away.
