GLEN ELLYN, IL - Affordable Housing Investment Brokerage (AHIB) is pleased to announce that Levy House, located at 1221 W. Sherwin Ave. in Chicago’s East Rogers Park neighborhood, has sold for $8,100,000. The brokerage firm partnered on the listing with Kiser Group so that the seller had the benefit of AHIB’s expertise in affordable housing and Kiser Group’s mid-market multifamily expertise in Rogers Park. Kyle Shoemaker, Managing Director of AHIB represented the buyer, Preservation of Affordable Housing (POAH), and seller, a non-for-profit.
Levy House is a 57-unit, seven-story apartment building that offers one-bedroom, one-bathroom floor plans. The multifamily property previously operated as a elderly housing and Preservation of Affordable Housing plans to keep and expand the property’s rent affordability.
CHICAGO, IL - Kiser Group’s Birk | Sklar team celebrated another active year with the sale of 40 buildings totaling 805 multifamily units. In the last five years, Partners Noah Birk and Aaron Sklar have sold more than 200 apartment buildings throughout Chicago’s south and west side neighborhoods.
“While 2020 presented a number of challenges throughout the real estate industry, I am incredibly proud of our team for selling 40 apartment buildings this year,” said Birk. “The demand for cash-flowing multifamily buildings is as high as I can recall, and 2020 saw the south and west sides of Chicago strongly benefit from that demand.”
Noteworthy Birk | Sklar team transactions in 2020 include:
CHICAGO, IL - Kiser Group, Chicago’s leading multifamily brokerage firm, advised on the sale of Lockport South Apartments in Lockport, Illinois. Located at 551 Diane Court, the 80-unit multifamily property sold for $7,250,000. Director Matt Halper, Advisor Danny Mantis, and Principal and Managing Broker Lee Kiser, represented both the buyer and seller.
“We are thrilled to round out the year with one of the largest 2020 closings in Will County,” said Kiser. “Especially due to the fact that the total transactions in Will Country were one-third of the transactions compared to 2019.”
“Will County’s multifamily market has limited rental inventory, and we continue to see strong investor interest in the area in addition to steady rent growth,” said Halper. “With this acquisition, the new owner is able to achieve immediate scale in the area.”
CHICAGO, IL - Kiser Group, Chicago’s leading multifamily brokerage, announces Refiloe Lethunya and Dan Gabbard have joined as Advisors and Michael Yangas as an Associate.
Refiloe Lethunya brings a diverse background in operations and business development to his Advisor role. He will focus his brokerage efforts on the northwest neighborhoods of Chicago. Lethunya joins Kiser Group from a career in sales for a large international marketing company. He is also a former European professional basketball player and was a member of the English National team.
Dan Gabbard joins Kiser Group from a commercial real estate brokerage firm in Indiana, where he earned a CoStar Power Broker award for his success there. Having previously worked a spectrum of commercial real estate product types, Gabbard selected Kiser Group to fulfill his goal of specializing in multifamily investment sales. Gabbard will focus on multifamily properties throughout the north side of Chicago.