Kiser Group, Chicago's leading multifamily brokerage firm, advised on the $1,773,000 Section 15 deconversion sale of 4944 N. Harding in the Albany Park neighborhood of Chicago. Kiser Group Advisors Andy Friedman and Jake Parker represented both the seller, 4944-46 N. Harding Condominium Association, and buyer, Block & Key, in the transaction. 

“We couldn’t be happier with the N. Harding property. It represents the perfect opportunity for investment in the Albany Park neighborhood, and the transaction process went smoothly thanks to the Kiser Group team,” said Sam Block, President of Block & Key. "Chicago is a great urban market for multifamily property, which means it will continue to be a highly sought-after destination for renters and owners alike. We’re excited to add this property to our portfolio as an asset in the neighborhood for years to come.” 

4944 N. Harding features 13 total units- 11 two-bedroom/one-bath units and two three-bedroom/two-bath units. The L-shaped walk-up building was converted to condominiums in 2005, during which time the entire property was gut renovated with new copper plumbing and an 800-amp electrical service. All units have individual furnaces and central A/C, as well as in-unit laundry and high-end finishes, including granite countertops and stainless steel appliances. 

“As northside brokers, we have seen growing interest for Albany Park properties over the years and this deal marks the second deconversion we’ve closed on Harding in the past year,” said Parker. “Albany Park’s multifamily market continues to see upward movement in rent due to its easy access to transportations, a built-in student renter base and numerous parks.”

"Condominium deconversion sales continue to thrive in Chicago. While the type, size, and locations of buildings deconverting will differ year to year, there remains in each sale a meaningful value proposition for both unit owners and buyers. We do not see an end to this trend anytime soon," said Friedman. 

"Andy, Jake and the whole Kiser Group team did a great job stewarding our association through this process,” said Scott Schlemmel, Board Member of 4944-46 N. Harding Condominium Association. “With condo deconversion sales happening more and more these days, we knew we wanted a team with the experience and core values to help us do the best for our owners and the buildings’ future residents.” 

Kiser Group Advisors Friedman and Parker have a strong track record with closing condo deconversions ranging in size and location throughout Chicago. Other notable Kiser Group condo deconversions sales include: 

• The Barry Quad, a 115-unit condo deconversion in Lakeview that sold for $32,300,000.

• 1140 N. LaSalle, a 250-unit condo deconversion in the Gold Coast that sold for $38,000,000.

• 4601 N. Dover, a 64-unit condo deconversion in Sheridan Park that sold for $12,500,000.

• Regency Terrace Condominiums, a 56 unit condo deconversion in Oak Park that sold for $8,885,000.

Kiser Group, Chicago’s leading multifamily brokerage firm, announces the promotion of Danny Mantis to Director from Advisor.

Since joining the firm in 2015, Mantis has used his strong analytical background to help clients meet their real estate investment objectives, successfully completing transactions well in excess of $145,000,000. In 2019, Mantis partnered with Kiser Group Director Matt Halper to pool their talents and resources to create better client service for their suburban Chicago business plan. Danny’s most recent transactions include Lockport South Apartments (80 units in Lockport, IL); Vinan Apartments (64 units in Melrose Park, IL); and Reba Place Apartments (12 units in Evanston, IL. One of Danny and Matt’s current listings is Park Ridge Commons, a 752-unit apartment complex in Des Plaines, IL.

“Danny has become an experienced and savvy broker during the past six years,” said Principal and Managing Broker Lee Kiser. “As he continues to focus his analytical mind on client needs in the suburban Chicago multifamily market, Danny and Matt are growing their market share. In addition to his role as broker, Danny is also an important part of the Kiser Group team, assisting with company strategy, technology initiatives, and helping new recruits acclimate to our systems.”

Danny holds a master’s degree in real estate from DePaul Univerisity’s Kellstadt Graduate School of Business, where he refined his understanding of commercial real estate finance. Prior to joining Kiser Group, Danny worked as a commercial credit analyst, underwriting and qualifying commercial real estate loan requests. In addition to understanding the economics of real estate, Danny also has experience in the day-to-day management of rental property that he owns personally. 

“In my early twenties, I was thrown into real estate when I inherited a few single-family rental properties,” said Mantis. “I quickly learned how rewarding a career in the industry could be. I’m ecstatic to have found a company where I can work side-by-side with the best in the business while continuing to grow a suburban practice with Matt. We are grateful to all of our clients who have worked with us throughout the years.”

Kiser Group, Chicagoland’s leading multifamily brokerage firm, lists Park Ridge Commons in Des Plaines, IL, a 752-unit multifamily property. The property is being marketed by Kiser Group’s Matt Halper, Danny Mantis and Lee Kiser.

“The suburban multifamily market is in high demand from both renters and investors, and this asset’s proximity to O’Hare and the I-294 employment corridor makes it very attractive,” said Kiser Group Director Danny Mantis. “While the pandemic created uncertainty across some industries and sectors, the multifamily industry outperformed expectations, and we continue to see high rates of investment here in suburban Cook County.”

The garden complex’s 752 residential units are spread across 47 buildings with a mix of one bedroom/ one bathroom, two bedroom/ one bathroom, and two bedroom/ two bathroom units. The property has historically high occupancy and is located close to shopping centers, restaurants, Metra and O’Hare Airport.  Residents enjoy amenities such as a clubhouse, lap pool, fitness center, tennis courts, and laundry.

“There’s a strong appetite for naturally occurring affordable housing,” said Kiser Group Director Matt Halper. “Park Ridge Commons has been well-maintained and has higher-end amenities than competing properties in the same niche.”

“The multifamily market remains one of the strongest sectors in commercial real estate,” says Principal and Managing Broker Lee Kiser. “Park Ridge Commons is an exceptional multifamily property, and we’re excited to bring out one of the largest investment opportunities in Chicagoland this year.”

• 7350 S. Phillips — located in the South Shore neighborhood, this 70-unit apartment building sold for $5,200,000. 
• 3432-40 W. Franklin Blvd. — located in South Humboldt Park, the 46-unit multifamily property sold for $3,700,000.
• 8201 S. Michigan Ave. - located in Chatham, the 43-unit apartment building sold for $2,500,000.
• 6553 S. King Dr. — located in West Woodlawn, the 24-unit multifamily property sold for $1,900,000.
• 11027-35 S. King Dr. - located in Pullman, the 27-unit apartment property sold for $1,740,000.
• 6800 S. Merrill Ave. — located in Jackson Park, the 22-unit multifamily building sold for $1,650,000.
• 7752 S. Racine Ave. — located in Auburn Gresham, the 41-unit mixed-use property sold for $1,650,000.
• 6420 S. Kenwood Ave. — located in Woodlawn, the 14-unit multifamily building sold for $1,500,00.
• 7722 S. Jeffery - located in the South Shore neighborhood, this 25 unit apartment building sold for $1,425,000.
• 7849-55 S. Escanaba Ave. — located in the South Shore neighborhood, this 30-unit mixed-use building sold for $1,250,000. 
• 8055 S. Ada St.— located in Auburn Gresham, the 18-unit multifamily building sold for $1,110,000

• 7350 S. Phillips — located in the South Shore neighborhood, this 70-unit apartment building sold for $5,200,000. 
• 3432-40 W. Franklin Blvd. — located in South Humboldt Park, the 46-unit multifamily property sold for $3,700,000.
• 8201 S. Michigan Ave. - located in Chatham, the 43-unit apartment building sold for $2,500,000.
• 6553 S. King Dr. — located in West Woodlawn, the 24-unit multifamily property sold for $1,900,000.
• 11027-35 S. King Dr. - located in Pullman, the 27-unit apartment property sold for $1,740,000.
• 6800 S. Merrill Ave. — located in Jackson Park, the 22-unit multifamily building sold for $1,650,000.
• 7752 S. Racine Ave. — located in Auburn Gresham, the 41-unit mixed-use property sold for $1,650,000.
• 6420 S. Kenwood Ave. — located in Woodlawn, the 14-unit multifamily building sold for $1,500,00.
• 7722 S. Jeffery - located in the South Shore neighborhood, this 25 unit apartment building sold for $1,425,000.
• 7849-55 S. Escanaba Ave. — located in the South Shore neighborhood, this 30-unit mixed-use building sold for $1,250,000. 
• 8055 S. Ada St.— located in Auburn Gresham, the 18-unit multifamily building sold for $1,110,000

Kiser Group lists 2036 S. Michigan Avenue, a mixed-use development in  Chicago’s South Loop, for $32.5 million. The listing is being marketed by Kiser Group Partners Noah Birk and Aaron Sklar and Principal and Managing Broker Lee Kiser.

“An investment at 2036 S. Michigan Avenue is a once in a decade opportunity and includes a compelling cap rate, value-add potential, and immediate scale in Chicago’s booming South Loop neighborhood,” said Partner Noah Birk. “With its proximity to major thoroughfares and McCormick Place, residents and commercial tenants enjoy having a marquee Michigan Avenue address, an easy commute throughout the city and ample restaurants, fitness centers and retail within walking distance.” 

Located on the historic Motor Row, this property was entirely renovated from 2016 to 2017. Comprising 68 residential units, the residential unit mix includes 16 three-bedroom/two-bathroom units, 47 two-bedroom/two-bathroom units, and 5 studios.  All residential units are condo quality and boast high ceilings, quartz countertops, stainless appliances, marble bathrooms, and fine cabinetry. The first and second floors include 55,000 square feet of retail and office space currently demised into 23 spaces.

“The South Loop location will attract interest from local, out-of-state, and international investors. All corners of the South Loop are experiencing a surge in development from apartment to hotel to retail. Investing now in 2036 S. Michigan secures a presence in the South Loop on south Michigan Avenue that will improve over time as development continues in the neighborhood,” said Partner Aaron Sklar.