11.20.19
Multihousing Pro: Kiser Group brokers three West Ridge apartment buildings for $6.5 million
Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered three West Ridge apartment buildings in separate transactions. 6300 N. Leavitt sold for $3,000,000, 6515 N. Seeley sold for $2,650,000, and 2737 W. Glenlake sold for $880,000. Kiser Group’s Danny Logarakis represented both the buyer and seller in all of the transactions.
“West Ridge is a relatively quiet multifamily market with only a dozen or so properties trading hands each year. In the past year, investment activity has picked up,” said Broker Danny Logarakis. “Apartment properties in West Ridge experience high occupancy with long-term tenants and stronger cash flow than similar properties in other northside neighborhoods. In terms of real estate fundamentals, this neighborhood is well located to transportation, restaurants, recreation and education.”
6300 N. Leavitt
The 27-unit West Ridge apartment building was acquired by 6300 N. Leavitt LLC for $3,000,000. Floorplans include one- and two-bedroom units with rents ranging from $700 to $900 per month.
6515 N. Seeley
The 26-unit West Ridge apartment building was acquired by 6515 N. Seeley Ave LLC for $2,650,000. The property was near vacant upon sale and will be gut renovated.
2737 W. Glenlake
The six-unit West Ridge apartment building features two- and three-bedroom units ranging from $1,100 to $1,400 per month. L&R Property Holdings LLC acquired the building for $880,000 from an owner-occupant.
