May 23, 2019
A 208-unit portfolio in South Shore has been listed for sale by the Kiser Group. Located at 7500 S. South Shore Dr., 6916 S. Clyde Ave. and 7038 S. Chappel Ave., the portfolio is listed for $20 million and represented by Kiser Group’s Noah Birk and Aaron Sklar.
The marketing is aimed at investors familiar with subsidized tenants and Opportunity Zones.
“This is a rare opportunity to acquire over 200 renovated units in the South Shore neighborhood of Chicago,” said Birk. “We are anticipating out-of-state investor interest, particularly from investment firms familiar with working with various subsidies and looking to grow their presence in Chicago.”
Sklar added that the portfolio represented “a turnkey investment with strong cash flow, giving any investor immediate scale in a rapidly growing neighborhood. Chicago’s South Side multifamily market continues to be more and more active with strong rent growth, property appreciation and Opportunity Zone interest.”
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