Kiser Group’s brokers, John George and Joe Bianchi, recently closed the sale of a $4 million portfolio in Chicago Lawn. The four adjacent buildings are located in one of Chicago’s rapidly appreciating southwest neighborhoods.
Bianchi noted that the area offers residents convenience to downtown with a suburban feel; it is primarily composed of single-family homes and exudes charm. The 53-unit portfolio consists of seven one-bedroom units, 34 two-bedroom units, 10 three bedroom units, one four bedroom unit and one five bedroom unit.
Despite uncertain market conditions and rising interest rates in the multifamily sector across Chicago Lawn has demonstrated strong stability as well as an increase in price per unit due to out-of state capital attracted by promising returns from scarcity available assets combined with increased development throughout the area.
