Thursday, January 2, 2014

Kiser Group Retained to Sell Four Apartment Buildings and One Mixed-Use Property in Chicago Area

127 Ridge Apartments, Evanston, IL

Lee Kiser

CHICAGO, IL  (Jan. 2, 2014) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, has been retained for four new listings in the Chicago area – a five-unit mixed-use building at Sheffield and Wellington avenues in Chicago’s Lakeview neighborhood; a 16-unit walk-up near Northwestern University in Evanston; a 19-unit apartment building just steps from Lake Michigan in Chicago’s South Shore neighborhood; and a two-building portfolio in Hyde Park offering 77 units.

3000-3002 N. Sheffield - Lakeview, IL

Listed for $1.9 million and located at 3000-3002 N. Sheffield, this five-unit mixed-use property in Chicago's Lakeview neighborhood is located within one block of the Brown Line Wellington ‘L’ Stop on a vibrant corner with bars and restaurants. The apartments have been renovated, yet still feature vintage architectural details from the original 1898 construction.

Brian Semel
“This Lakeview opportunity presents an investor the opportunity to acquire a renovated, stabilized property with established, long-term commercial tenants,” said Lee Kiser, principal of Kiser Group, who is marketing the listing.

 “It’s highly desirable location just steps from the Brown Line ‘L’ Stop appeals to renters that work downtown, and the retail and restaurant tenants benefit from all the commuters walking by every day.”
127 Ridge - Evanston, IL

 Listed for $1.8 million, 127 Ridge is a 16-unit walk-up apartment building in Evanston.

The corner property consists of one three-bedroom, 10 two-bedroom, two one-bedroom, and three duplex apartments. Building upgrades include new copper plumbing and recent roof work. The property is blocks from both Evanston and Chicago public transportation. The units are fully leased, and most of the tenants are long-term residents of the building.

Noah Birk
 “127 Ridge presents tremendous upside potential for an investor because as-is rents could be considerably higher than current levels,” said Brian Semel, senior managing director of Kiser Group, who is marketing the property.

 “The apartments offer more square footage than is typical in the area, and it’s located near downtown Evanston and Northwestern University, an area with extremely high rental demand.”

7234 S. Coles – South Shore, IL

Listed for $950,000, 7234 S. Coles is a 19-unit apartment building situated just blocks from Lake Michigan and South Shore Golf Course.

The unit mix consists of six two-bedroom and 13 one-bedroom apartments, each with one bath. Units feature hardwood floors throughout and newer kitchens and bathrooms. 

Some of the many updates to the building include: new roof, new porches, newer windows, newer boiler, and updated units.

Bill Baumann
“7234 S. Coles provides stable income,” said Noah Birk, managing director of Kiser Group, who is listing the property. “The location offers both the recreational benefits of Chicago’s lakefront and quick access to downtown via the CTA’s Lakeshore Drive express buses.”

5135 S. Blackstone and 5111 S. University – Hyde Park, IL

Listed for $4.5 million, this portfolio in Hyde Park offers two corridor-style buildings, comprised of 77 units. 5135 S. Blackstone consists of 33 studio apartments and 3 one-bedroom units, while 5111 S. University offers 41 studio apartments.

Located a few blocks from the University of Chicago’s main campus, Lake Michigan, public transportation and numerous shops and restaurants, the properties are in a sought-after portion of Hyde Park. The properties offer on-site laundry and management.
5111 South University, Hyde Park, IL
“This is a very desirable neighborhood that attracts a large tenant pool, from professionals to students,” said Kiser, who, along with Bill Baumann, senior managing director, is listing the property. 

“There are few opportunities available that allow for such a sizeable portfolio in Hyde Park, making this a very appealing option for investors.”

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

Mark Thomton
 (312) 267-4523

Stirling Sotheby’s International Realty Negotiates Sale of 398 Home Sites at Hunter’s Ridge in Ormond Beach, FL for $8.7 Million

Hunter's Ridge community, Ormond Beach, FL
John Kurtz
ORMOND BEACH, FL --- Stirling Sotheby’s International Realty recently negotiated the sale of 398 home sites at Hunter’s Ridge in Ormond Beach for a total of $8.7 million.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said associate John Kurtz negotiated the two part sale representing both the sellers.

Sixty-eight estate home sites of Ashford Lakes Estates at Hunter’s Ridge sold for $2.2 million to The Resource Group LLC, an investment and development group out of Jacksonville. The seller was Ashford Lakes Estates, LLC

BADC Huntington Communities, LLC purchased 330 partially developed single-family and townhome sites for $6.5 million. 

The sale included Huntington Townhomes, Huntington Lakes and Huntington Woods. The seller was TP Investments, LLC.

Roger Soderstrom
Hunter’s Ridge is a 5,000-acre DRI located on S.R. 40 just west of I-95. Hunter’s Ridge still has 1,100 undeveloped acres approved for 1,900 more home sites as well as commercial space, a new school and other amenities.

 Kurtz is also representing the seller of this remaining acreage, which is on the market for $15,000,000.00.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142  

Trepp December Loss Analysis: Volume, Severity Stay Steady

NEW YORK, NY -- December liquidation volume and loss severity stayed fairly close to November’s levels, which were a rebound from two months of below average activity, reports New York-based Trepp.

Liquidation volume registered $1.28 billion in December, up slightly from $1.21 billion in November and in line with the 12-month moving average of $1.18 billion. Of the loans liquidated, 90% fell into the greater than 2% loss severity category.

December loss severity came in at 50.36%, up from November’s 48.10% and considerably higher than October's 38.58%. The 12-month moving average for loss severity is 45.57%.

The number of loans liquidated in December was 93, which resulted in $647.17 million in losses, making the average disposed balance of $13.82 million--well above the 12-month average of $11.64 million.

Since January 2010, servicers have been liquidating at an average rate of $1.18 billion per month.

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