Monday, December 16, 2013

Kiser Group Brokers Four Chicago Sales: Three Apartment Buildings and a Bulk Sale of 16 Condominiums

  
2200 North Avers, Logan Square, Chicago, IL
  
CHICAGO, IL  (Dec.  16, 2013) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered sales on Chicago’s North Side of three apartment properties and the bulk purchase of 16 units in a condominium building.

Sean Connelly
The four transactions included a five-unit property in Bucktown, 80 percent of a 20-unit condominium building in Logan Square, a 10-unit building in Irving Park, and a six-unit building in Humboldt Park.

1874 N. Hoyne - Bucktown

The five-unit brick apartment building located at 1874 N. Hoyne in Bucktown sold for $1,048,100. Sean Connelly, senior managing director of Kiser Group, represented buyer and seller in the off-market sale.
                             
2200 N. Avers – Logan Square

  Sixteen out of 20 condominium units at 2200 N. Avers were purchased for $825,000. The sale included 13 one-bedroom and three two-bedroom condos, each with one bath.

Bill Baumann
 “At the time of the listing, the offering had a capitalization rate of more than 7 percent,” said Connelly, who represented the seller in the sale. 

“The sale also provides the buyer the opportunity to acquire the remaining four units and recombine the property identification number to reclassify the entire building as apartments.”

 “There is a lot of upside to this deal as the buyer can convert these condos into much-needed rentals for the rapidly growing neighborhood of Logan Square,” said Bill Baumann, senior managing director of Kiser Group, who represented the buyer in the transaction.

4137-43 N. Kimball – Irving Park

 Located at 4137-43 N. Kimball in Chicago’s Irving Park neighborhood, this 10-unit brick building sold for $700,000. It includes three two-bedroom and seven one-bedroom apartments, each with one bath.

Mike Anguiano
“This is a well-maintained building on a corner property,” said Brian Semel, senior managing director of Kiser Group. Semel and Mike Anguiano, managing director of Kiser Group, represented buyer and seller in the sale.

“The location near the Kennedy Expressway’s Irving Park exit also attracts renters seeking easy access to downtown or the northern suburbs.”
                                                                            3226 W. Potomac – Humboldt Park

This six-unit apartment property at 3226 W. Potomac in Humboldt Park sold for $445,000. Brian Mond, managing director of Kiser Group, represented the buyer in the off-market sale.

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

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

Mark Thomton
312-267-4523




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