CHICAGO - Kiser Group’s Partner Noah Birk and Senior Director Aaron Sklar have brokered 358-units and 19 buildings throughout Chicago’s south side neighborhoods in 2019. The south side duo focuses their brokerage efforts in south side neighborhoods such as Chatham, Marquette Park, South Shore and Woodlawn.

“So far in 2019, interest levels and activity for multifamily product in Chicago’s South Side neighborhoods have been at an all-time high,” said Partner Noah Birk. “While many may think it has to do with Opportunity Zones, we do not see that investment strategy moving the needle. Rather, investors that are priced out of other markets are moving their capital into these neighborhoods because of attractive cash-on-cash returns and appreciating property values.”

Recent Transactions By Neighborhood:

South Shore

• Birk and Sklar represented the buyer and seller of 3075 E. Cheltenham, a 60-unit building in the South Shore neighborhood, which sold for $1,975,000. Kiser Group’s Marco Cesario represented the buyer. “This 60-unit building was a rare opportunity to acquire a nearly vacant building and redevelop it into affordable, luxury apartments,” said Birk.
• Birk and Sklar represented the buyer and seller of a $1,500,000, 43-unit property at 6943 S. Cornell in the South Shore neighborhood.
• Birk and Sklar represented the seller of 7514 E. Essex, an 8-unit building in the South Shore neighborhood, which sold for $610,000.

“Along the lake, interest continues to remain sky high, and there is no shortage of investors looking to acquire stabilized buildings in one of the most developing and appreciating neighborhoods in Chicago,” said Sklar. “Out of state investors see the lake, golf course and Jackson Park as neighborhood amenities that will drive property values.”

Bronzeville

• Birk and Sklar represented the buyer and seller of a $600,000, 13-unit building located at 4238 S. Cottage Grove in the Bronzeville neighborhood.

Chatham

• Birk and Sklar represented the buyer and seller of 7852 S. Eberhart in the Chatham neighborhood. The building includes 37 unit and sold for $1,095,000.
• Birk and Sklar represented the buyer and seller of an $896,000, 31-unit building located at 8118-26 S. Drexel in the Chatham neighborhood.
• Birk and Sklar represented the buyer and seller of 7914 S. Dobson in the Chatham neighborhood. The building includes 13 unit and sold for $625,000.
• Birk and Sklar represented the buyer and seller of a $315,000, 11-unit building located at 8935 S. Dauphin in the Chatham neighborhood.

Englewood

• Birk and Sklar represented the buyer and seller of 6351 S. Loomis, a 15-unit building in Englewood that sold for $670,000.

Greater Grand Crossing

• Birk and Sklar represented the buyer and seller of a $2,700,000, 31-unit building located at 7816 S. Cornell in the Greater Grand Crossing neighborhood. “This is one of the highest price per unit buildings ever recorded in this neighborhood of South Shore,” said Birk.

Jackson Park Highlands

• Birk and Sklar represented the buyer and seller of 6940 S. Oglesby, a 19-unit building in Jackson Park Highlands that sold for $1,350,000.

Marquette Park

• Birk and Sklar represented the seller of 7146 S. Claremont in the Marquette Park neighborhood. The building includes 15 unit and sold for $615,000.
• Birk and Sklar represented the buyer and seller of 7256 S. Artesian, a 13-unit building in Marquette Park that sold for $430,000.
• Birk and Sklar represented the buyer and seller of 2614 W. Marquette in the Marquette Park neighborhood. The building includes 8 unit and sold for $430,000.
• Birk and Sklar represented the buyer and seller of 2535 W Marquette in the Marquette Park neighborhood. The building includes 12 unit and sold for $410,000.
• Birk and Sklar represented the buyer and seller of 2448 W. Marquette, an 8-unit building in Marquette Park that sold for $337,500.

South Chicago

• Birk and Sklar represented the buyer and seller of 8131 S. Kingston in the South Chicago neighborhood. The building includes 7 units and sold for $329,000.

Washington Park

• Birk and Sklar represented the seller of a $475,000, 43-unit property at 5840 S. Calumet in the Washington Park neighborhood. 

Woodlawn

• Birk and Sklar represented the seller of 6600 S. Champlain in the Woodlawn neighborhood. The building includes 8 units and sold for $380,000.

• Birk and Sklar represented the buyer and seller of 6600 S. Champlain in the Woodlawn neighborhood. The building includes 8 units and sold for $380,000.

The Collection on East Lake Terrace has been listed for sale unpriced by Chicago-based multifamily brokerage firm Kiser Group. The 11 building, 181-unit portfolio is located in Chicago’s East Rogers Park neighborhood. The seller, Lee Street Management, assembled The Collection on East Lake Terrace over a two-decade time frame. Eastlake Terrace is three blocks long and east of Sheridan Road. All of the buildings in The Collection have views of Lake Michigan. Listing agents for the assignment are Kiser Group’s Principal and Managing Broker Lee Kiser and brokers Danny Mantis and Patrick O’Brien.

“The Collection on East Lake Terrace is unique because of its scale, assemblage, geographic concentration and potential for value-add and repositioning,” said Principal and Managing Broker Lee Kiser. “We anticipate interest from local, out-of-state and international investors, especially from firms seeking immediate scale in Chicago.”

Throughout the 11 buildings, floorplans range from studio to four-bedroom units and rents range from $650 to $2,500 per month.

The Collection On East Lake Terrace Portfolio

• 7737 N. Eastlake Terrace features 10 units. Floorplans include one- and two-bedroom units with rents ranging from $900 to $1,380.

• 7736-42 N. Eastlake Terrace features 24 units. Floorplans include studio and one-bedroom units with rents ranging from $780 to $990.

• 7642-48 N. Eastlake Terrace features 16 units. Floorplans include one- and two-bedroom units with rents ranging from $1,105 to $1,480.

• 7630-38 N. Eastlake Terrace features 21 units. Floorplans include one- and two-bedroom units with rents ranging from $860 to $1,280.

• 7618-26 N. Eastlake Terrace features 32 units. Floorplans include one- and two-bedroom units with rents ranging from $830 to $1,300.

• 7606 N. Eastlake Terrace features 12 units. The rents range for one-bedroom units is $725 to $880.

• 7516-18 N. Eastlake Terrace features 8 units. Floorplans include studio, one- and three-bedroom units with rents ranging from $800 to $2,035.

• 7510-14 N. Eastlake Terrace features 17 units. Floorplans include studio, one- and two-bedroom units with rents ranging from $650 to $1,540.

• 1304 W. Birchwood Ave. features 4 units. Floorplans include three- and four-bedroom units with rents ranging from $1,920 to $2,500.

• 1310-20 W. Birchwood Ave. features 22 units. Floorplans include one- and two-bedroom units with rents ranging from $960 to $1,280.

• 1310-18 Howard St. features 15 units. Floorplans include one- and two-bedroom units with rents ranging from $1,030 to $1,680.

“These stabilized properties are all located within the three-block stretch of Eastlake Terrace in the northeast corner of Chicago,” said Broker Danny Mantis. “The portfolio offers investors the ability to brand and market the area as a destination and sub-neighborhood because of the density of the buildings and nearby amenities such as public access beaches, tennis courts, playgrounds, parks and Lake Michigan.”

“The portfolio, which features 1920s construction, consists of mostly one and two bedroom floorplans with a handful of studio and three bedroom units,” said Broker Patrick O’Brien. “Whether an investor is looking to modernize the units and add in-building amenities for today’s luxury renters or make simple upgrades and updates, there is a wide scale of value-add potential.”

Kiser Group, Chicago’s leading multifamily brokerage firm, announces that Aaron Sklar, 31, has been promoted from Director to Senior Director. Sklar began his career in brokerage four years ago and has quickly risen up the ranks at Kiser Group. He has established himself as a multifamily market leader throughout the south side of Chicago including South Shore, Jackson Park and East Woodlawn.

Since joining Kiser Group in February 2015, Sklar has successfully completed transactions in excess of $110,000,000 on behalf of his clients as well as brokered the sale of more than 1,900 units. Sklar has been named a CRE Future Leader by RE Journals and named One To Watch by Bisnow. In 2017, Sklar earned Kiser Group’s Top Closer award.

“What Aaron has achieved in four years is impressive. His meteoric rise in brokerage is not slowing down. Aaron currently has more than $34 million in sales in escrow and more than $56 million in active property listings, and is on track for 2019 being his best year, ” said Lee Kiser, principal and managing broker at Kiser Group. "Aaron has become an integral part of the Kiser Group team. We look forward to his continued growth as a broker and mentor.”

A 208-unit portfolio in Chicago’s South Shore neighborhood has been listed for sale by Chicago-based multifamily brokerage firm Kiser Group. Located at 7500 S. South Shore Dr., 6916 S. Clyde Ave and 7O38 S. Chappel Ave., the portfolio is listed for $20 million and represented by Kiser Group’s Partner Noah Birk and Director Aaron Sklar. The Portfolio is being marketed as a turn-key investment for firms familiar with subsidized tenants and opportunity zones.

“This is a rare opportunity to acquire over 200 renovated units in the South Shore neighborhood of Chicago,” said Partner Noah Birk. “We are anticipating out-of-state investor interest particularly from investment firms familiar with working with various subsidies and looking to grow their presence in Chicago.”

The South Shore Portfolio

• 7500 S. South Shore Dr. features 130 renovated units. Floorplans include studio and one-bedroom units with rents ranging from $750 to $1,094.

• 6916 S. Clyde Ave. is located in an opportunity zone and features 53 renovated units. Floorplans include studio and one-bedroom units with rents ranging from $525 to $1,088.

• 7O38 S. Chappel Ave. is located in an opportunity zone, features 25 renovated units and two- and three-bedroom floorplans. Rents range from $1,004 to $1,515.

“These stabilized properties are located within a one-mile radius from each other,” said Director Aaron Sklar. “The portfolio is a turn-key investment with strong cash flow giving any investor immediate scale in a rapidly growing neighborhood. Chicago’s south side multifamily market continues to be more and more active with strong rent growth, property appreciation and opportunity zone interest.”

In March, Birk and Sklar brought Englewood Terrace Apartments to market, a $25 million opportunity zone listing in Chicago’s Englewood neighborhood. The 304 unit high rise has received numerous offers.

Located in Aurora, Illinois, 2000 Illinois has been listed for sale by Chicago-based multifamily brokerage firm Kiser Group. The 128-unit, 5-story property is listed for $10,400,000 and represented by Kiser Group’s Matt Halper and Danny Mantis.

“With historically high-occupancy and strong cash flow, we expect strong investor interest,” said Broker Matt Halper. “There is an opportunity to increase rents with the current condition of the units and to reconfigure areas of the property to add amenities that compliment the pool and courtyard.  An ideal investor will have familiarity with affordable housing since 32 of the units are income restricted to 60% AMI.”

2000 Illinois features 104 one-bedroom units, 24 two-bedroom, 150 surface parking spaces and 52 covered parking spaces. The property also features an outdoor pool and sundeck. Currently, more than 97 percent occupied, the asset was originally constructed in 1973 and has seen substantial physical improvements under current ownership. The property’s rents range from $750 to $1,055 per month.

“The Kane County location has a favorable expense relative to other Chicagoland counties,” said Broker Danny Mantis. “We anticipate that fact paired with a high concentration of  employers nearby will be appealing to investors.”

 Kiser Group, Chicago’s leading multifamily brokerage firm, announces Sam Boye and Patrick (Pat) O’Brien as the firm’s newest brokers. Boye, 43, and O’Brien, 30, bring to Kiser Group extensive experience across multiple asset classes and varying elements of real estate investment.

“The addition of experienced commercial real estate professionals like Sam and Pat is consistent with Kiser Group’s reputation for providing the highest level of brokerage services to our clients,” said Lee Kiser, Principal and Managing Broker at Kiser Group. “Their past experience further bolsters our team's valuation and underwriting capabilities. We look forward to Sam and Pat’s success.”

Boye previously worked at Golub & Co., a high-profile Chicago-based commercial real estate investor and developer, where he managed and implemented more than $100 million in value-add renovations. He brings a diverse background in real estate investing, engineering, construction, commercial office and multifamily building operations to Kiser Group’s clients.

“I’ve known and worked with Lee Kiser for years and have always been impressed with Kiser Group,” said Boye. “Having executed numerous multifamily renovations at Golub, I’m looking forward to assisting my clients in finding and executing value-add investments. I will also help Kiser Group clients analyze the best capital expenditures to drive the value of their existing portfolio.”

O’Brien previously led a team at Beitler Real Estate Services, a well-known and influential Chicago-based developer. At Beitler, O’Brien underwrote more than $500 million of value-add, adaptive re-use and development projects across office, hospitality, retail, parking and multifamily asset classes. O’Brien also understands his clients’ investments first-hand, as he personally owns a portfolio of apartment buildings in Chicago.

“Kiser Group brokers represented me when I acquired my own portfolio, and I was impressed by the extent of their market knowledge, valuation techniques, and negotiation expertise,” said O’Brien. “As I learned more about Kiser Group and the training provided there, I decided this is the best place to build my brokerage practice. My business plan is to represent clients in the north side neighborhoods of Chicago.”

“Kiser Group has been a market leader since its inception in 2005; however, we are entering a growth phase of our business,” said Kiser. “We have worked hard to systemize our training systems and have created the most lucrative compensation structure for brokers in the industry. We will continue to hire additional brokers and further increase our market share.”