10.30.18
MultifamilyBiz: Kiser Group’s Noah Birk and Aaron Sklar Broker Seventeen Multifamily Properties in October
CHICAGO, IL – Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered 17 buildings in October throughout Woodlawn, South Shore and Bronzeville. Senior Director Noah Birk and Director Aaron Sklar focus their brokerage efforts throughout Chicago’s south side neighborhoods.
Recent Transactions:
Birk represented the buyer and seller, 6600 S. Ingleside LLC, of a $1.8M, 28-unit building located at 6600 S. Ingleside Ave. in East Woodlawn.
“East Woodlawn has been one of the hottest neighborhoods on the south side,” said Senior Director Noah Birk. “The neighborhood is dense with single family and 2 to 6 flats, and it’s rare to find any larger buildings. It is even more rare to find any apartment buildings that offer a true value-add component. Almost everything in the area has been rehabbed over the past few years, yet 6600 S. Ingleside is both a larger building and a value-add opportunity.”
Birk and Sklar represented the buyer and seller, Ash Properties, of a $1.25M, 7-property Bronzeville portfolio, which includes buildings located at 4230-4232 S. Langley, 4720 S. Wabash, and 4551-4553 S. Champlain, to name a few.
Birk and Sklar represented the local buyer and seller of a $312,000, 7-unit building located at 7931 S. Manistee in South Shore.
Birk and Sklar represented the buyer and seller, Ash Properties, of a $311,000, eight-property portfolio in Chicago’s far south east side.
“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.”
“Interest levels and activity in Chicago’s South Side neighborhoods have been rapidly increasingly,” said Director Aaron Sklar. “With more and more developments coupled with the expansion of the Opportunity Zone, demand in the South Side been higher than ever.”
