Chicago Realty News Blog

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Six Chicagoland Multifamily Markets To Watch

Six Chicagoland Multifamily Markets To Watch

Where should you make your next Chicagoland multifamily investment? We asked our brokers just that. In this post they share why Austin, Gary, Indiana, Logan Square, Rogers Park and Suburban Workforce Housing are markets to watch.    Austin “The Austin...

Top 10 Most Read Multifamily Blog Posts So Far In 2020

Top 10 Most Read Multifamily Blog Posts So Far In 2020

Kiser Group’s brokers are industry experts known for sharing market knowledge. On Kiser Group’s blog our brokers dive into topics and conversation points they find interesting and worth further discussion. As we reach the half-way point of 2020, here are our most-read...

You’ve Inherited An Apartment Building, Now What?

You’ve Inherited An Apartment Building, Now What?

Inheriting an apartment building is different from a single-family home. Apartment buildings are investment property requiring management and maintenance. We asked Matt Halper and Michael D'Agostino what you should do if you inherit a multifamily asset.   Before...

Cap Rates Explained: How Important Are They?

Cap Rates Explained: How Important Are They?

A capitalization rate, more commonly referred to as a cap rate, is a metric commercial real estate  investors use to analyze properties and calculate the rate of return. The cap rate is calculated by dividing the net operating income of the property by the...

A Day In The Life Of A Multifamily Analyst

A Day In The Life Of A Multifamily Analyst

I have been an analyst supporting Kiser Group's Partner Noah Birk and Senior Director Aaron Sklar for eight months. During that time, I’ve learned a lot about multifamily real estate and the south and west sides of Chicago. If you have ever been on the phone with me,...

Kiser Group’s COVID-19 Mid-Market Survey Results

Kiser Group’s COVID-19 Mid-Market Survey Results

Kiser Group recently surveyed clients to learn more about how mid-market multifamily owners throughout Chicagoland are being impacted by COVID-19. Responses were received from a diverse cross-section of multifamily ownership profiles and a geographic spectrum of the...

Top 10 Most Read Multifamily Blog Posts in Q1 2020

Top 10 Most Read Multifamily Blog Posts in Q1 2020

Kiser Group’s brokers are industry experts known for sharing market knowledge and mentoring new brokers. The Kiser Group blog is another place for our brokers to dive into topics and conversation points they find interesting and worth further discussion. Now that Q1...

Why A Rent Strike Does More Harm Than Good

Why A Rent Strike Does More Harm Than Good

Most renters think their rent payment goes directly into their landlord’s pocket, so a rent strike might seem like a good idea; afterall, why should a landlord make all that money when times get tough? That’s not the way it works, though.  In order to understand...

Industry Expert: Dean Huber On Getting Deals Done

Industry Expert: Dean Huber On Getting Deals Done

We are looking forward to our upcoming Mid-Market Summit event on Thursday, May 7 and wanted to take the time to speak with sponsor Dean Huber of Walker & Dunlop ahead of the event about financing deals.   Kiser: How did you get your start? Was it in lending...

Taxes & The State of Evanston’s Multifamily Market

Taxes & The State of Evanston’s Multifamily Market

I don’t think it’s ground-breaking to say that Evanston has been ground-zero for the new assessment methodology coming out of the Cook County Assessor’s office. Anyone reading the news on this topic has read about instances where the 2019 assessed value of real estate...

Kiser Group Celebrates 15 Years of Business

Kiser Group Celebrates 15 Years of Business

I’m writing this blog on our 15th anniversary of business. How did it all start? I’ve always considered myself an entrepreneur. I’ve never actually had a “real job” with a salary. After numerous big ideas, false starts, and failures, I found myself at 30 years old,...

Auburn Gresham: The Next South Shore?

Auburn Gresham: The Next South Shore?

Auburn Gresham is located on the far south side of Chicago, 13 miles from downtown and has quietly been gaining momentum with the multifamily investment community. With 75th Street to its north, the neighborhood spans from the train tracks east of Halsted Street to...

Yes, Vintage Edgewater Studios Can Achieve $1,000+ in Rent

Yes, Vintage Edgewater Studios Can Achieve $1,000+ in Rent

In speaking with Edgewater landlords and reviewing rent rolls, I’ve noticed that vintage studio apartments are underpriced for today’s market. Many landlords have told me there is no way for them to break $1,000 per month for a studio, and I would like to detail why...

How To Know If An Investment Property Is Right For You

How To Know If An Investment Property Is Right For You

I’m sure you’ve heard the phrase, “don’t have all your eggs in one basket”. Having a diversified portfolio is not just owning stocks and bonds. Long-term real estate investing is the best third leg of the investing stool. Short of another crisis, real estate values...

Top Apartment Investing Advice from Lee Kiser

Top Apartment Investing Advice from Lee Kiser

Over the past couple of years, I’ve contributed advice articles to the Forbes Real Estate Council about apartment investing, building a career as a multifamily broker and starting a brokerage firm. Below are my top five favorites for multifamily investors, both new...

RE Journals: Best of the Best 2019

RE Journals: Best of the Best 2019

Kiser Group is honored and proud to be named one of the Midwest's Top Brokers in RE Journals Best of the Best 2019. This is possible because of our wonderful clients and Kiser Group's hard-working team.       Read Article...

Wrigleyville’s Development Impact on Vintage Apartments

Wrigleyville’s Development Impact on Vintage Apartments

Known for being the home of Wrigley Field and the Chicago Cubs, Wrigleyville has experienced a surge of real estate development from residential to hotel to retail in the last few years.    Recent Developments Since the purchase of the Chicago Cubs in 2009,...

Catch Up On Our Most Read Multifamily Blog Posts 

Catch Up On Our Most Read Multifamily Blog Posts 

Kiser Group’s brokers are industry experts known for sharing market knowledge and mentoring new brokers. The Kiser Group blog is another place for our brokers to dive into topics and conversation points they find interesting and worth further discussion. Now that Q2...

Condo Deconversion: Just a trend or here to stay?

Condo Deconversion: Just a trend or here to stay?

The shifting balance between apartment values and condo values will dictate the frequency of deconversions, but the appreciation potential for the majority of low-priced condominiums is very limited. In addition, there will always be condominium properties that fall so far behind on their maintenance that a deconversion becomes the only viable exit option for current owners.  

The Good, Bad & Ugly of Investing in Chicago Multifamily

The Good, Bad & Ugly of Investing in Chicago Multifamily

I’ve been hearing hesitancy from investment groups regarding investing in Chicago. Every day I’m talking with clients about anything from headlines to taxes to pension problems so I thought I would dig into the good, bad and ugly of investing in Chicago’s multifamily market.

Event Recap: The Mid-Market Summit

Event Recap: The Mid-Market Summit

On Thursday, May 9, Kiser Group hosted our annual Mid-Market Summit event. The exclusive event open only to Principals and Investors in multifamily real estate, featured two industry panels addressing current topics facing Chicago’s industry. This year’s discussion...

How To Identify An Armchair Real Estate Investment

How To Identify An Armchair Real Estate Investment

Whether you are looking to diversify your portfolio for retirement or looking for a long-term investment outside of the stock market, acquiring an apartment building can be a great investment option. So - how do you find the right apartment building to invest in? If...

Stop Overlooking Englewood Apartment Investments

Stop Overlooking Englewood Apartment Investments

The Englewood neighborhood in Chicago continues to be overlooked by the commercial real estate industry, particularly apartment investors. While people have cited crime and a challenging renter base as reasons they don’t invest in the neighborhood, there are three key investment parameters that are being overlooked. From cash flow to Opportunity Zones to new neighborhood development, Englewood is heating up.

The Best Amenities For Mid-Market Apartments

The Best Amenities For Mid-Market Apartments

You’ve seen the headlines or read an article about elaborate amenities being added to Class A apartment buildings. Luxury apartment developers are increasingly competing  in the “amenity wars.” From coworking spaces to doggy daycare to bocce ball, many of these...

You Want to Sell Apartment Buildings? Read This First.

You Want to Sell Apartment Buildings? Read This First.

I often get asked, “Should I get into real estate brokerage?” I usually tell them “No”, mostly because I don’t want any extra competition…but I always tell them that it’s an incredibly risky business to get into with extremely high rates of failure. It’s important for...

I’ve Inherited An Apartment Building. Should I Sell It?

I’ve Inherited An Apartment Building. Should I Sell It?

By Matt Halper, Kiser Group Real estate is a common asset a person can inherit. While most people may think of a house, it can even be an apartment building. An investment property such as a multifamily asset is not necessarily an armchair investment, and tenant...

The Condominium Conversion-Deconversion Pendulum

The Condominium Conversion-Deconversion Pendulum

As we continuously examine the deconversion trend at Kiser Group, we look for as much information as we can to try to understand how much longer it will last.  We recently looked at our historical data to see how many of each year’s sales were conversions or deconversions out of our total multifamily sales, and we produced the chart below.

Cash-On-Cash: The real measure of rate of return

Cash-On-Cash: The real measure of rate of return

By Andy Friedman Real estate investors are always drawn to cap rate as their go-to measure for potential investments. Cap rates are flawed. (More about that in a previous post.) Your return is not the cap rate, it is the cash-on-cash return, especially since the...

Cap Rates: A Highly Misunderstood and Imperfect Metric

Cap Rates: A Highly Misunderstood and Imperfect Metric

By Andy Friedman   If I had a nickel for every time I’ve been told by a real estate investor that they will only consider a property with X cap rate or above, well, I’d have a boatload of nickels.  There are several problems with using cap rates as your main...

Liquidity: An Often-Ignored Component of Real Estate

Liquidity: An Often-Ignored Component of Real Estate

By Andy Friedman When most people evaluate a real estate investment, there is a small set of initial questions that they look to get answered: What is the cap rate? What is the vacancy rate? How are rents or lease rates trending in that area? What is the condition of...

What HOA Members Should Know About Condo Deconversions

What HOA Members Should Know About Condo Deconversions

Condominium deconversions are a hot topic in commercial real estate today, and I don’t think it’s just the latest trend. As condominium stock built in the 70s and older continues to age and need updates, modernization and capital improvements, owners continue to spend...

Kiser Group’s Mid-Market Summit 2018 Recap

By Lee Kiser Kiser Group’s inaugural Mid-Market Summit was May 9 at City Winery in the West Loop. In way of recap, the Mid-Market Summit is an invitation-only event for Kiser Group clients: Chicagoland’s apartment owners and investors. The panel discussion topics...

Kiser Group Receives 2017 Power Broker-Top Firm Award

Kiser Group Receives 2017 Power Broker-Top Firm Award

We're so proud to receive the 2017 Power Broker – Top Firm award from CoStar consecutive years in a row. This accomplishment would not be possible without the continuous efforts and hard work from our brokers and the team of staff members that support them.  ...

Four Reasons to Invest in the Chicago Suburbs

Four Reasons to Invest in the Chicago Suburbs

By Matt Halper If you’re considering getting into real estate investment or looking to diversify your apartment portfolio, the Chicago Suburbs are a great market. Here are a few reasons why you should consider investing in the suburbs:   1. Steady Stream of...

What Makes a Good Mid-Market Broker?

What Makes a Good Mid-Market Broker?

By Michael D'Agostino Commercial real estate brokerage is a skillful balance of art and science. The middle market encompasses many personas and investment needs. Being able to appeal, present and understand the investor profile of each persona is the art of the deal,...

Three Reasons to Invest in Lake County Right Now

Three Reasons to Invest in Lake County Right Now

Lake County… I get it. The real estate taxes are high. That’s the singular thing that any investor brings up when I suggest the idea of looking at apartment buildings in Lake County.  While I get why that’s intimidating to investors, I don’t think that should disqualify investors from considering investments. 

A Day in the Life of a Multifamily Analyst

A Day in the Life of a Multifamily Analyst

By: Jake Parker   As a commercial real estate analyst, it can be hard to set a schedule when you first start. There are seemingly endless phone calls and emails to be made, clients to see, and plenty of market research to do.   Here is a snapshot of my...

Why a New Logo?

Why a New Logo?

  The short answer? We created a new logo to represent the new Kiser Group: a collaborative team that blends the traditional and the modern, merging classic practices with advanced real estate technology for in depth market knowledge – all to benefit our clients....

RPBG October 2015 Market Update

I had a 50/50 chance of being right last month when I predicted that the Fed would err on the side of caution at their September FOMC meeting and keep rates at current near-zero levels. I was right and, let me be the first to admit – it was pure dumb luck! They could just as easily have moved rates up a notch. Lots of people who know a heck of a lot more about all of this than I do believed very strongly that they would do just that. They were wrong this time – but they won't be wrong forever…

RPBG September 2015 Market Update

After a tumultuous month in the markets, all eyes are now on the Fed and what they will, or will not, do at the next FOMC meeting scheduled for September 16-17. It's an interesting question, and one that has no obvious answer.

RPBG August 2015 Market Update

You would think that the trauma in Greece, collapse of the Chinese equities markets, and serious prospects of a rate increase from the Fed would be enough to throw a wrench into the US economy. But, apparently, you would be wrong. Despite all of these things, and any number of other global concerns, the US economy and domestic equities markets seem to be taking it all in stride…

RPBG June 2015 Market Update

Another month, another yawn. I feel like a broken record, but here goes anyway. The economy is good, but not great. The markets are neither soaring nor are they plunging. Job growth continues to crawl higher, and unemployment continues to notch lower even while the labor force participation rate remains well below average for the past several decades…

RPBG April 2015 Market Update

These articles are pretty easy to write when things are really good, or really bad, or really volatile. But they're a lot harder to write when not much is going on. And frankly, right now, not much is going on…

Kiser Group Blog: Would You Sell Your Best Piece Of Art At An Auction Attended By Only One Buyer?

In a hot real estate market like this one, be cautious about doing a deal directly with a buyer. Buyers are hungry for buildings and have excess capital earmarked for real estate investment.

Picture this: An owner of a well-maintained, well-occupied neighborhood multifamily property gets an unsolicited call from a buyer. The buyer wants to buy the owner’s property, names a price and sets a timetable. The owner perks up. It’s a good number (probably far more than he or she ever thought the building would sell for when it was originally purchased). After a little deliberation and back-and-forth, the owner agrees to sell. Sounds like a winning scenario, right? 

Kiser Group Blog: Our Own Little World

A consistent theme that I’ve heard from my local Chicago based clients over the course of this incredible run that the multifamily market has been on over the last 18-24 months is that they can’t make sense of the prices that people are paying for assets; in short, they could never make the numbers work. I have to remind them that Chicago is a world-class city with quality income-producing real estate that garners attention not just from all over the U.S., but all over the world…

Kiser Group Blog: Well, I thought I knew everything…

A client once told me about an argument she had with her business partner, which resulted in my client stomping off in frustration. The partner chased my client down and said, “Hey, where are you going?” My client responded, “You’re being stubborn and not listening to me.” The partner responded with, “I was just debating the issue. If we always agree, one of us isn’t necessary.” This has become somewhat of a mantra to me…

How Much Income is Necessary to Fund the New Wave of Class A Apts in Chicago? Try $1.34 Billion.

The luxury apartment boom in Chicago has been quite the success story for the past five years as developers have delivered thousands of Class A apartments to the city’s core and surrounding neighborhoods, driving rental rates to new highs.  However, for this new product to work there has to be a stable population of high-income earners seeking to live and work in the city’s core. 

RPBG Market Update – February 2015

There's been a lot of volatility in the markets of late, a reflection of the general confusion about what direction the economy is headed. One minute, the markets seem to reflect unbridled optimism. A day later, everyone is running for the hills. The simple question is, why?

Real Estate Misconceptions: What “All-Cash” Really Means

I was on the phone this week discussing deals with a real estate reporter and I asked him if he knew what an “all-cash deal” meant. His response was quick and efficient…"It's when the buyer closes with their own funds – all cash – and doesn’t use a loan to close.” Sounds like a reasonable answer; the only problem is that it is wrong. There are a lot of common misconceptions in real estate and I find the idea of an “all-cash deal” to be one of the biggest…

Me? But I’m Not A Salesperson.

I never will forget Estella’s reaction the first time I suggested she consider becoming my partner in commercial real estate brokerage. My wife had spent considerable time, effort, and money earning her law degree and had finished six and a half years working at two of the top commercial litigation firms in Chicago. She had also just been given a 50 percent salary raise and a guarantee for partnership in the 3rd quarter of the same year I brought the subject up: "You should consider joining me in this. You'd be a great broker and together we could make one hell of a team." She thought I had lost my mind…

RPBG Meeting: Tuesday, September 23

Join RPBG as they discuss and talk about Artspace a leading nonprofit developer. In an effort to create artist live/work space in Rogers Park, the Rogers Park Business Alliance hosted Artspace, America's leading nonprofit developer for the arts, to Rogers Park for a 2-day feasibility visit. Attendees had the chance to share their thoughts and provide feedback. Ideas gathered at the meeting were used by Artspace to gauge community support for a live/work project in Rogers Park. They also provided a feasibility assessment (see attached) which is being used by Rogers Park Business Alliance and its partners to recommend next steps.

Downtown Moves To Uptown…The Assignment I’m Glad I Didn’t Get

Last week, I saw something that left me speechless (for those of you who know me, something that rarely happens). I walked through the final stages of construction for Somerset Place Apartments at 5009 N. Sheridan Road, a newly converted 160-unit multifamily project in Uptown renovated by Indianapolis-based Zidan Management. Touring the building with Zidan's manager Ayman Assef, I realized I was seeing something that would be a total game changer for Uptown and, potentially, the entire north side rental market…

EUBA Meeting :: Wednesday September 24th

Don't miss out on this opportunity to hear from local experts as they discuss energy consumption in multifamily properties, the programs that are available to you as a landlord, and how to make your buildings more energy efficient (save money).

Property Rental Assistance Program

Do you own multiple properties or a multi-unit building?  The Property Rental Assistance (PRA) Program aims to increase high-quality affordable housing in healthy and revitalizing neighborhoods throughout the city of Chicago.

Apartment / Multi-Family Summit :: State of the Market

On August 9, 2012 Illinois Real Estate Journal is hosting its annual Multifamily and Apartment Summit. After a headline conversation between Joel Carlins, Magellan development and Gail Lissner, Appraisal Research Counselors, a distinguished panel of experts will talk about the state of the market.

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