As we enter the second half of the year, it’s essential to take a moment to look back at the achievements and hurdles that shaped the first half. According to CoStar, the sales volume for mid-market Chicagoland multifamily deals during this period hit its lowest level since 2016. However, amidst this challenging landscape, Kiser Group has emerged as a formidable force, boasting an impressive industry-leading year-to-date $119 million in sales volume for 2023.
The numbers speak for themselves. The $731 million sales volume for 2023 signifies a significant decline. In fact, this represents the lowest sales volume for mid-market Chicagoland multifamily properties in the past eight years. Kiser Group’s contribution of $119 million represents more than 16% market share, firmly establishing Kiser Group as the leading brokerage firm in the region.
Lee Kiser, Principal and Managing Broker at Kiser Group, expressed his pride in the team’s achievements. He remarked, “Despite the challenges posed by market conditions, Kiser Group has excelled, showcasing the tenacity, savvy, and unwavering dedication of our brokers to their clients. The team’s exceptional performance and unwavering commitment to client success have played a pivotal role in their continued success.”
Q2 was particularly successful for Kiser Group, with several notable deals closed by their top-performing brokers. Andy Friedman and Jake Parker closed an $18.3 million condominium deconversion sale and brought two more to the market, with projected sales of $30 million and $50 million. Lee Kiser, Katie LeGrand, and Jacob Price successfully brokered Anderson Point, a $53,500,000 deal in Andersonville, earning them recognition as CoStar Power Broker Quarterly Deals Winners for Q1.
The Birk | Sklar Team also thrived in Q2. In the month of May alone, the team closed 481 units in 16 buildings across the south side for over $40 million . Furthermore, they have over $50 million worth of transactions currently in escrow, highlighting their consistent performance and ability to deliver results.
In addition to closings, the Kiser Group team has received well-deserved recognition. Danny Logarakis was nominated as a finalist for 2022 Broker of the Year, and his Rotter Portfolio was nominated for the most significant investment sales transactions for 2022 at the 2023 IREJ Awards. The Birk | Sklar Team also gained recognition as finalists for the Broker Team of the Year Award. In addition, Kiser Group itself was named a finalist for Brokerage Firm of the Year..
Looking ahead to the second half of the year, Kiser Group currently has $80 million worth of contracts in the pipeline. Moreover, with over $300 million in multifamily properties on the market or set to enter the market within the next 30 days, the company is projecting continued excellence in the second half of 2023.