Kiser Group has successfully brokered a $15-million apartment portfolio sale in the UIC Medical District. The seller, University Rentals UIC, sold the property to Bay Laurel Partners in an off-market deal. Strategically located near both UIC and Rush hospitals, this portfolio offers a diverse range of housing options with 25 two-bedroom one-bathroom units, nine three-bedroom two bathroom units, seven three bedroom one and half bathroom units as well as seven two bedroom two bathrooms.
This acquisition provides Bay Laurel Partners with an opportunity to establish a significant presence in the challenging neighborhood of the UIC Medical District while setting new benchmarks for price per door for value add properties according to Kiser Group associate Will Cornish.
