MultifamilyBiz: Kiser Group Sells Multifamily Housing Portfolio Totaling 220-Units on Chicago’s North Side

CHICAGO, IL – Kiser Group, Chicago’s leading mid-market brokerage firm, recently brokered a $20 million portfolio in Rogers Park. Kiser Group represented the seller, Ansonia Properties.

Allen Smith of Winnemac Properties bought the four-building, 220 unit portfolio with plans to standardize management, renovate units and create better housing.

“You don’t often see this many units trading hands at the same time and going to a single investor,” said Lee Kiser, principal and managing broker of Kiser Group. “It helps this investor reshape the market by bringing a standardization of amenities, unit finishes and management practices to a large number of units at the same time.”

Rogers Park and other north side Chicago neighborhoods have been seeing a surge of investor interest due to a migration in renters looking to escape pricier rents. Some tenants fear that as more newly renovated apartments develop, rental prices will increase and force them out.

Kiser said the changes planned for the Rogers Park portfolio will be high-quality and well-managed, but not luxury, resulting in rents remaining affordable.

The vintage buildings are located at 1412 W. Chase, 6945 N. Ashland, 1310 W. Lunt and 1257 W. Lunt. The properties include studio, one-bedroom and two-bedroom units.

The listing team included Luke Lesniewski, Stevens Haen, Michael Feldstein and Lee Kiser.