### Kiser Group Brokers $10.45M Multifamily Sale in Edgewater
Kiser Group Partner Andy Friedman and Senior Director Jake Parker have successfully closed the sale of three fully occupied multifamily properties in Chicago’s Edgewater neighborhood, totaling $10.45 million.
Built in 2016, the properties feature large two- and three-bedroom units with ground-floor NNN commercial space. Due to their proximity to Loyola University, the buildings are primarily occupied by students.
The transaction included:
– **1244 W. Devon**, an 11-unit building that sold for $4.35 million.
– **1301 W. Devon**, a seven-unit property that sold for $2.95 million.
– **1325 W. Devon**, another similar building that sold for $3.15 million.
“Originally listed as a whole, our launch timing unfortunately coincided with the rapid rise in interest rates,” said Andy Friedman. “Ultimately, all three buildings sold to new entrants in the market—a doctor from Columbus, a 1031 buyer from the Northwest Suburbs, and a local retail investor purchasing their first mixed-use property.”
