18-24 E. Northwest Hwy.
CHICAGO – Kiser Group has been retained to market three apartment property listings totaling 57 units in the suburban neighborhoods of Arlington Heights, Westmont and Wood Dale.
The buildings are located at 18-24 E. Northwest Hwy. in Arlington Heights; 6703 Alpine Dr., 6703 Maple Dr., 6791 Park Dr. and 6721-6723 Vail Dr. in Westmont; and 120 and 124 Division St. in Wood Dale.
”We are seeing increased activity all throughout Chicago’s suburbs, as evidenced by the number of new listings we have been retained for so far this year,” says
Lee Kiser, principal of Kiser Group.
The property in Arlington Heights is a 14-unit mixed-use building with two retail spaces, one of which is leased. The three-story brick building offers two studios and 10 one-bedroom units, all of which are fully occupied. The listing does not include parking, but off-street parking is located nearby. It is listed for $1.75 million.
The properties in Westmont include five six-flat buildings in
The Ponds at Willow Falls apartment complex totaling 30 units. The listing price is $1.8 million.
Each building has five two-bedroom and one one-bedroom apartments. The 30 units are 95% leased. All units share a large community parking lot.
The listing located in Wood Dale consists of two buildings totaling 13 units. This property is listed at $949,000. The unit mix includes 10 one-bedroom, one two-bedroom and two three-bedroom apartments, all of which are fully occupied. The property includes 21 parking spaces.
”There’s simply more renters than the current supply can accommodate right now and it will take a few years for the new developments that are beginning right now to become reality,”Kiser says. “So that makes suburban rentals a very solid and healthy investment opportunity, especially for suburban investors looking for value-add plays.”
Kiser Group is a Chicago commercial real estate brokerage firm specializing in the mid-market apartment sector. Kiser Group works with private investors, property owners and financial institutions.