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.”

Kiser Group’s Birk | Sklar team continues to have one of its most active years by brokering 607 units across 34 apartment buildings. Throughout Chicago’s south and west sides, the team also has 208 units across 21 apartment buildings currently under contract and 25 active listings comprising 404 units.
 
“There’s no shortage of capital searching for the aggressive cash flow that the buildings on the south and west side offer,” said Birk. “When you combine that demand with this historically low-interest-rate environment, it’s resulted in a record number of transactions at record-breaking prices”
 
Notable 2021 closings include: 
  • 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
 
“Our team has the most active presence throughout the southside of Chicago,” said Sklar. “From appreciation to rent growth, there is no shortage of positive momentum fueling an incredibly active south and west side market.”
 
Kiser Group’s Birk | Sklar team includes Noah Birk, Aaron Sklar, Jack Petrando, Austin Parker Justin Turner, Michael Yangas and Ben Goldman.
Kiser Group’s Birk | Sklar team continues to have one of its most active years by brokering 607 units across 34 apartment buildings. Throughout Chicago’s south and west sides, the team also has 208 units across 21 apartment buildings currently under contract and 25 active listings comprising 404 units.
 
“There’s no shortage of capital searching for the aggressive cash flow that the buildings on the south and west side offer,” said Birk. “When you combine that demand with this historically low-interest-rate environment, it’s resulted in a record number of transactions at record-breaking prices”
 
Notable 2021 closings include: 
  • 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
 
“Our team has the most active presence throughout the southside of Chicago,” said Sklar. “From appreciation to rent growth, there is no shortage of positive momentum fueling an incredibly active south and west side market.”
 
Kiser Group’s Birk | Sklar team includes Noah Birk, Aaron Sklar, Jack Petrando, Austin Parker Justin Turner, Michael Yangas and Ben Goldman.

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. 

 

Kiser Group, Chicago's leading multifamily brokerage firm, has advised on the $32.3 million sale of The Barry Quad, a three-building, 115-unit condo deconversion in the Lakeview neighborhood of Chicago. Kiser Group Advisors Andrew Friedman and Jake Parker represented both the seller, Barry Quadrangle Condominium Association, and buyer, North Park Ventures, in the transaction. 

 

"North Park Ventures is very pleased with the acquisition of Barry Quad, furthering our investment in multifamily in the north side of Chicago," said Robert Sekula, Managing Partner, North Park Ventures. "We continue to believe there is great value to realize in the various neighborhoods of Chicago and have worked tirelessly with all parties involved to bring this deal across the finish line."

 

Located on the 800 block of West Barry Street, the 115-units are spread across three buildings. 835-855 W. Barry, originally two distinct courtyard buildings containing 69 units, were fused together in the 1981 conversion with a pool, fitness room, party room, and sundeck in the middle. 856-864 W. Barry is a 34-unit courtyard building, and 850-852 W. Barry is a 12-unit vintage walk-up building. The Barry Quad sale represents only the second vintage walk-up property of 100 units or more to trade in Lakeview in the last decade.

 

"With three buildings, 115 units and 113 separate owners, the Barry Quad deconversion sale was a huge undertaking. Each building has its own distinct heating and cooling systems and differing amenities. Further complicating the effort, each individual unit had been customized since the 1984 conversion, leading to zero uniformity of unit finish levels. Pre-sale valuation and buyer due diligence were quite involved processes that required multiple property visits and coordination with owners. The closing process itself was its own undertaking, and we applaud seller attorneys Omar Malik and Ryan Shpritz from KSN Law and buyer attorneys Chad Poznansky and Danny Borek from Clark Hill for getting it across the finish line," said Friedman.

 

"Our Association began the effort to sell in a deconversion five years ago The process spanned a half dozen brokers, countless starts and stops and one global pandemic. In the end, it was Andy, Jake and the team from Kiser Group that was able to get this done. They earned the trust of our Association, which is what kept this deal alive. They attended countless board meetings, answered every email, phone call and negotiated a deal that benefits everyone. There's no doubt in my mind they were the only brokers who could have gotten this done," said John Tenfelder, Barry Quadrangle Condominium Association President.

 

"Our team has a strong track record with closing condo deconversions ranging in size and location throughout Chicago," said Parker. "Barry Quad had been attempting to sell in a deconversion since 2016, through both on-market listings and off-market efforts. This particular sale was one week from closing contingencies in March of 2020, when financing was lost due to the pandemic. Sheer determination from North Park Ventures and continual communication with the entire Association allowed the deal to stay alive and ultimately close. "

 

Notable Kiser Group Condo Deconversion Sales Include:

  • 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.

  • 512 W. Wrightwood, a 20-unit condo deconversion in Lincoln Park that sold for $4,550,000.

 

"Condominium deconversion sales are alive and well in Chicago. While the type, size, and locations of buildings deconverting will differ from year to year, there still remains a meaningful value proposition for both unit owners and buyers. We do not see the end of this trend happening anytime soon," said Friedman.

 

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