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CHICAGO — Kiser Group has arranged the sales of three communities located in Chicago’s Edgewater neighborhood for a total of $10.4 million. The assets, which were all constructed in 2016, consist of 25 two- and three-bedroom units with ground-floor commercial space. Andy Friedman and Jake Parker of Kiser brokered the sales.
The buildings were originally listed as a portfolio sale, but Kiser decided to split the buildings for individual sale, citing the rise in interest rates at the time of launch. All three buildings sold to new entrants in the market — a doctor from Columbus, a 1031 exchange buyer from the northwest suburbs and a local retail investor purchasing its first mixed-use property.