CHICAGO, IL - Kiser Group is pleased to announce the successful sale of a newly constructed, condo-quality multifamily property in the East Garfield Park/Tri-Taylor neighborhood. The property achieved a final sale price of $750,000, equating to an impressive $150,000 per unit.
The transaction, brokered by Kiser Group’s Jack Petrando and Noah Clark, attracted multiple offers and ultimately closed on January 30. The fully occupied, five-unit building consists of three two-bedroom, two-bathroom units and two three-bedroom, two-bathroom units. With in-unit laundry and rear parking, the turn-key property offers modern amenities and a desirable living experience for tenants.
Achieving $150,000 per unit, the sale set a high benchmark for the area. The property was fully occupied at the time of sale, ensuring a seamless transition for the new owner. As a new construction asset, it delivers condo-quality finishes in an appreciating market. Situated in an up-and-coming neighborhood with convenient access to public transportation and a quick commute downtown, the property generated significant investor interest.
The East Garfield Park/Tri-Taylor area continues to see strong demand, with rents and property values appreciating year over year. The appeal of new construction in an emerging neighborhood contributed to the property’s strong performance on the market.
“This sale is a testament to the growing demand for quality multifamily assets in appreciating Chicago neighborhoods,” said Jack Petrando. “With multiple offers and a competitive closing price, it’s clear that investors recognize the long-term value in this area.”