October 16, 2013
Kiser Group brokered four Chicago apartment property transactions in September 2013 – a 14-unit property in Humboldt Park, a five-unit three-flat plus coach house in Lakeview, a 32-unit building in Old Irving Park, and a 35-unit building in Rogers Park.
1713-15 N. Humboldt The property located at 1713-15 N. Humboldt consists of two adjacent apartment buildings with a total of 14 units. It sold for $1.93 million, and it includes a mix of two- and three-bedroom units with one bath. Recent renovations include new kitchens, baths and HVAC system. “The massive capital improvements to this property provide great rental upside,” said Sean Connelly, senior managing director of Kiser Group, who represented buyer and seller in the sale.
3437 N. Paulina Located in Chicago’s Lakeview neighborhood, this five-unit property at 3437 N. Paulina consists of a brick three-flat plus a coach house. It sold for $1.08 million. The unit mix includes two three-bedroom, two-bath units, two two-bedroom, one-bath units and a one-bedroom unit. “Location was a key selling point,” said Brian Mond, managing director of Kiser Group, who represented the seller in the sale. “It’s just half a block from the renovated Brown Line Paulina ‘L’ Stop, so there’s always steady rental interest from professionals that work downtown.” “The coach house’s rehab earlier this year also added to its appeal,” noted Matt Jones, managing director of Kiser Group, who represented the buyer in the transaction.
4014-22 W. Melrose Located at 4014-22 W. Melrose on Chicago’s Northwest Side, this property contains 32 units, including 14 two-bedroom, one-bath apartments, 12 one-bedroom, one-bath units, and six studios. It sold for $1.88 million. “A large, stabilized courtyard building in Old Irving Park is rarely available,” said Mike Anguiano, managing director of Kiser Group, who represented the seller in the sale. “It sold in only 28 days.” “Location was also attractive to the buyer,” said Brian Semel, senior managing director of Kiser Group, who represented the buyer in the sale. “Its proximity to the Blue Line ‘L’ and the Kennedy Expressway provides easy access to both downtown and the suburbs.”
7522 W. Greenview The 35-unit apartment building located at 7522 N. Greenview in East Rogers Park sold for $2.4 million. It includes 14 studios, 13 one-bedroom, one-bath apartments; seven two-bedroom, 1½ bath units; and one three-bedroom, two-bath unit. The property also offers 25 parking spots. “Location, parking and recently renovated units were key selling points of this property,” said Semel, who represented the buyer as well as the seller, MK Asset Management, in the transaction.
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