Kiser Group’s Birk | Sklar team has brought 7800 S. Laflin, 7086 S.Lafin and 7822 S.Laflin to market in Chicago’s Auburn Gresham neighborhood. The southside properties comprise 100-units and are listed for $6,757,000. Partners Noah Birk and Aaron Sklar are marketing the portfolio.

“It is rare for an investor to be able to acquire this much southside scale in one transaction,” said Noah Birk, Partner at Kiser Group. “With historically high occupancy and the potential for nearly 20% cash-on-cash returns, these properties will sell quickly.”

“Current ownership has managed and maintained the buildings and units exceptionally well,” said Aaron Sklar, Partner at Kiser Group. “Roughly 50% of the units are subsidized through different organizations including CHA, and nearly  80% of the units have been newly renovated with updated appliances, bathrooms and fixtures in addition to updating the kitchens to include granite countertops.”

Units range from studios to two-bedroom apartments with a blended average rent of $1,130.

Kiser Group’s Birk | Sklar team includes Noah Birk, Aaron Sklar, Jack Petrando, Austin Parker, Justin Turner, Michael Yangas and Ben Goldman. 

Kiser Group, Chicago’s leading multifamily brokerage firm, brokered two separate transactions in Gary and Highland, Indiana, totaling $1.175 million. Advisor Kyle Sissell represented both the buyer and seller in each transaction. 

“Indiana is quickly becoming one of the hottest investment markets for multifamily owners,” said Sissell. “With its favorable landlord laws, Indiana continues to attract both local and national investors’ attention. Couple that with the steady demand from residents in Lake County, and it’s definitely an area to watch.” 

3600 Washington Street 

This two-story, eight-unit brick building in Gary sold for $350,000. It has four one-bedroom/one-bath units and four two-bedroom/one-bath units. Located in the residential neighborhood of University Park, the property is in close proximity to both Indiana University Northwest and Ivy Tech and provides great access to transportation, parks, shopping centers, schools and more. The property also has ample parking. In addition, the current re-zoning and re-use of Gleason Golf Course – just two blocks north – is the largest planned redevelopment nearby. 

9626 Forrest Drive 

Built in 1964, this nine-unit building in Highland includes 8 two-bedroom/one-and-a-half bath units and one one-bedroom/one-bath unit. It sold for $825,000.00. Located near the intersection of two main streets in Highland, the property grants ideal access for both walking and driving to nearby parks, shopping centers, schools, gym and restaurants. In addition, the property sits just one block east of access to the Erie Lackawanna Trail, a 17.7 trail throughout Lake County that hosts hikers, bikers and runners. A handful of capital expenditures have been completed in recent years, and several of the units have already been renovated.

Kiser Group, Chicagoland’s leading multifamily brokerage firm, announced the sale of 2341 Algonquin Road, a 16-unit multifamily building in Rolling Meadows, Illinois. Kiser Group Directors Matt Halper and Danny Mantis represented both the buyer, GMA North 1 LLC, and an unnamed seller in the transaction.

“Chicago’s northwest suburbs are seeing strong investor interest and pricing,” said Kiser Group Director Matt Halper. “The property presented potential buyers with several options for value-add opportunities from upgrading units to appealing taxes.”

Built in 1973, 2341 Algonquin Road encompasses a 17,265 square-foot lot with 16-unit apartment units and 32 parking spaces. All of the building’s apartments are one-bedroom units. Three of the units have also been updated with new kitchens and baths, while the remaining units are an older vintage.

“With 13 of the 16 units still in vintage condition at this building, there is good value-add potential for the new owners,” said Kiser Group Director Danny Mantis. “As a northwest suburb of Chicago, Rolling Meadows offers a lot of great amenities for those looking for something other than urban, city living, so the return on any improvements to the units will reap benefits for a long time into the future."

Kiser Group Directors Halper and Mantis have a strong track record in Chicago’s northern suburbs.

Kiser Group, Chicagoland’s leading multifamily brokerage firm, advised the Magnolia Grace Condominiums Association through a Section 15 deconversion sale. Located at 3763 N. Magnolia Ave., the 12-unit condo deconversion in Chicago’s Wrigleyville neighborhood sold for $2.85 million. Kiser Group Advisors Andy Friedman and Jake Parker also represented the unnamed buyer.

“Condo deconversions remain an appealing investment opportunity for the multifamily industry. The supply of condominiums and potential deconversions in Chicago is still plentiful, especially condominiums that were converted from apartment buildings,” said Friedman. “We are pleased to have led another association through a successful deconversion. Our hands-on approach with the association resulted in all 12 owners accepting the contract and making for a seamless process from start to finish.”

The property was converted to condominiums in the 1980s and today features 11 spacious one-bedroom, one-bathroom units and one two-bedroom, one bathroom unit.

“The units at 3763 N. Magnolia Ave. vary in condition, with some being recently updated and some being vintage. The buyer plans to update vintage units and leave the updated units in their current condition,” said Kiser Group Advisor Jake Parker. “Wrigleyville is experiencing a renaissance of new development and activity, as a result the buyer views this building as a great long-term investment. ”

Kiser Group Advisors Friedman and Parker have a strong track record in transitions on Chicago’s Near North Side. Both Friedman and Parker focus on multifamily, mixed-use and condominium deconversion deals in the area.

Kiser Group’s Birk | Sklar team has brokered 53 apartment buildings throughout Chicago’s south and west side neighborhoods so far this year. According to transaction data from CoStar, Partners Noah Birk and Aaron Sklar are the only brokers in Chicago to have sold more than 50 buildings in a year. In 2017, Partner Noah Birk set a record with 53 closings, and this year he and Sklar are on pace to sell more than 70 multifamily buildings.

“Investors from around the world are making a strong push to get into the multifamily market on the South and West sides of Chicago” said Noah Birk, Partner at Kiser Group. “Demand is drastically outpacing supply right now, which has lead to a record number of transactions at record prices.”

“We’ve seen an influx in east coast investors seeking high cap rate deals in addition to the usual parties that are active throughout Chicago’s south and west sides,” said Aaron Sklar, Partner at Kiser Group. “Readily available capital and low-interest rates paired with appreciating multifamily assets created high demand in our market areas.”

Recent Transactions Includes: 

• 8201 S. Michigan Ave. a 30-unit multifamily property in the Chatham neighborhood of Chicago sold for $2,500,000.
• 8222 S. King Dr., a 21-unit multifamily property in the Chatham neighborhood of Chicago sold for $1,029,000.
• 539 E. 46th Pl., a seven-unit multifamily property in the Grand Boulevard neighborhood of Chicago sold for $1,025,000.
• 5000 W. Monroe, a 15-unit multifamily property in the South Austin neighborhood of Chicago sold for $1,020,000.
• 8039 S. King, a 17-unit multifamily property in the Chatham neighborhood of Chicago sold for $833,000.
• 6836 S. East End, a six-unit multifamily property in the Jackson Park neighborhood of Chicago sold for $725,000.
• 8001 S. Dobson, a 15-unit multifamily property in the East Chatham neighborhood of Chicago sold for $725,000.
• 6600 S. Laflin, a 10-unit multifamily property in the West Englewood neighborhood of Chicago sold for $670,000.
• 8810 S. Cottage Grove, an eight-unit multifamily property in the Chatham neighborhood of Chicago that sold for $510,000.

Kiser Group’s Birk | Sklar team includes Noah Birk, Aaron Sklar, Jack Petrando, Austin Parker, Justin Turner, Michael Yangas and Ben Goldman. 

Kiser Group, Chicagoland’s leading multifamily brokerage firm, announces a new promotion today. Rick Ofman has been promoted to Director after five years with the company. As Director, Rick will continue to specialize in the sale of multifamily investment properties on Chicago’s North Side. 

“While I’m not big into titles, I am proud and humbled by this promotion,” said Ofman. “Coming to commercial real estate after teaching, I didn’t know quite what to expect, other than an opportunity to make it for myself through grit and determination. I feel lucky to have worked alongside some truly incredible people at Kiser Group.”

As an advisor with Kiser Group, Rick has brokered more than $140 million in multifamily real estate sales. His ability to empathize with clients allows him to truly understand their business goals and strategize efficient pathways to maximizing the value of their investments. Rick is an active member of the Edgewater Uptown Builders Association (EUBA) and Rogers Park Builders Group (RPBG). 

Prior to joining Kiser Group in 2016, Rick enjoyed a successful career teaching U.S. History and Mathematics in the northern suburbs and North Side of Chicago. He earned his B.S. in psychology and graduated with distinction from the University of Illinois at Urbana-Champaign before earning his M.A.T. from National-Louis University.

“Rick brings such a unique perspective to our firm,” said Kiser Group Principal and Managing Broker Lee Kiser. “Diversity in experience and background are key to building a strong team, and we appreciate how Rick shares his skills in relationship building with our clients.”

Kiser Group is currently hiring for several positions, including advisors. Learn more here.