Kiser Group Negotiates $8.6M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow

CHICAGO — Kiser Group has negotiated the sale of a three-property multifamily portfolio in Chicago’s East Woodlawn and Bronzeville neighborhoods for $8.6 million. The buildings, which feature a combined 70 units, are located at 6625 S. Drexel Ave., 4901 S. Michigan Ave. and 4725 S. Michigan Ave. The units have updated kitchens and bathrooms, but current rents are about 30 percent below market rents, according to Kiser. The brokerage firm’s Birk | Sklar team brokered the transaction. Buyer and seller information was not provided.

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