June 6, 2018 Comments Off on Kiser Brokers Workforce Residential Complex Sale in Blue Island Views: 232 Chicago News, Greater Chicagoland

Kiser Brokers Workforce Residential Complex Sale in Blue Island

Connect Apartments is coming up on June 26th in Los Angeles. Here’s a link to find out more about the conference and to register.

Kiser Group recently brokered the sale of Blue Station Apartments in Blue Island, IL for $18.6 million. The buyer, an undisclosed national portfolio owner, purchased the 345-unit apartment complex from Kinzie Realty Corp.

The seller assembled the apartments through multiple acquisitions, then branded and managed the assets as Blue Station Apartments. Community amenities include an on-site convenience store and daycare center.

“Kinzie took an institutional approach to a non-institutional part of the market, making the workforce housing complex a community, complete with a full staff and tenant services,” said Kiser principal Lee Kiser, who arranged the sale with the firm’s Matt Halper. “This isn’t a typical investment strategy for workforce housing, but it has worked well for Kinzie.”

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