Kiser Group Brokers Six Property Sales Totaling $12 Million in Chicago Areas of North Side, Hyde Park and Cicero

  

5326 South Cornell Apartments, Hyde Park, IL

  

Bill Baumann

                                                 CHICAGO, IL– Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered four apartment building sales and two mixed-use property transactions.

The December 2013 closings included a 60-unit apartment building in Edgewater, a 64-unit apartment building in Hyde Park, a 27-unit mixed-use property in Cicero, a four-flat in Lincoln Park, a six-unit apartment building in East Village, and a 10-unit mixed-use property in Rogers Park.

6119 N. Kenmore - Edgewater

          The 60-unit brick apartment building located at 6119 N. Kenmore in Edgewater sold for $4.4 million. The property includes 23 studios, 36 one-bedroom units and one two-bedroom unit, each with one bath. The building also offers 30 parking spaces.

Lee Kiser

 “Location was a key selling point,” said Bill Baumann, senior managing director of Kiser Group, who represented the seller in the sale. 

“This property sits on a large 150-foot-by-150-foot parcel that’s just one block from the Loyola University campus and the Red Line ‘L’ stop at Granville Avenue.”

 “The investment appealed to the buyer because of a value-add through renovation,” said Lee Kiser, principal of Kiser Group, who represented the buyer in the sale.

5326 S. Cornell – Hyde Park

The corridor-style building located at 5326 S. Cornell in Hyde Park offers 64 studio apartments. It sold for $3.85 million.

 “There is high rental demand for studios in the Hyde Park area, and 5326 S. Cornell attracts students seeking to live close to the University of Chicago campus,” said Kiser. He and Baumann co-listed the property and represented both buyer and seller in the sale.

John Meyer

2209 S. 61st Court – Cicero

Located at 2209 S. 61st Court in Cicero, this 27-unit multi-use building sold for $1.3 million. The fully occupied building includes eight one-bedroom apartments, 16 studios and three commercial spaces.

 “The tremendous upside potential of this condo-quality building was attractive to the buyer as the units are currently rented at below-market levels,” said John Meyer, managing director of Kiser Group, who represented buyer and seller in the sale.

“Recent capital improvements also made the transaction appealing to the buyer.”

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Sean Connelly

“The prestigious address amid shopping and entertainment venues as well as the convenience of being located one block from the Brown Line “L’ stop at Armitage Avenue made this property extremely appealing to the buyer,” said Michael D’Agostino, managing director of Kiser Group. He and Kiser represented both buyer and seller in the sale.

                                                                                                               950 N. Wolcott – East Village

This six-unit apartment property at 950 N. Wolcott in East Village sold for $862,500. It includes three one-bedroom and three two-bedroom units, each with one bath. Parking is also available on the property.

“The stability of a well-maintained building in a tranquil neighborhood close to downtown was the key selling point of this East Village property,” said Baumann, who represented the seller in the sale.

                                                               

“All the units are leased, and the property provides reliable income and tenant-paid utilities,” said Sean Connelly, senior managing director of Kiser Group, who represented the buyer in the sale.

 7044 N. Clark – Rogers Park

Brian Semel

 The six-unit mixed-use building at 7044 N. Clark in Rogers Park sold for $495,000. The unit mix includes five one-bedroom, one-bath apartments, one studio and two commercial spaces. Recent improvements include an upgraded façade, roof and electric.

 “This property is located across from the Rogers Park Metra Station, which is attractive for downtown professionals seeking a quick commute,” said Brian Semel, senior managing director of Kiser Group, who represented the seller in the sale. 

“The location also provides a lot of foot traffic for the retailers that occupy the commercial spaces.”

 “The buyer also appreciated that each unit has its own individual furnace and hot water,” added Kiser, who represented the buyer in the sale.

6119 North Kenmore, Edgewater, IL

All the names of buyers and sellers involved in these transactions are not available at this time.

Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, announces that on December 16, 2013, it represented the seller and buyer of 5326 S. Cornell in Chicago’s Hyde Park neighborhood.

For a complete copy of the company’s news release, please contact:

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

www.kisergroup.com.