12.19.19
ReBusiness Online: Kiser Group Brokers Sale of 128-Unit Apartment Property in Aurora, Illinois
AURORA, ILL. — Kiser Group has brokered the sale of 2000 Illinois, a 128-unit apartment property in Aurora. The sales price was undisclosed, but the cap rate was 5.64 percent. Constructed in 1973, the property includes parking and an outdoor pool. In 2014, the seller entered into a land use restriction agreement with the Illinois Housing Development Authority that stipulated 25 percent of the units be income-restricted to 60 percent of the area median income for a 10-year period. Matt Halper and Danny Mantis of Kiser represented the undisclosed buyer and seller.