CHICAGO, IL - Kiser Group is proud to announce the successful closing of three multifamily properties in the West Ridge neighborhood this month, marking significant milestones in the local real estate market. Each transaction highlights the neighborhood’s diverse investment opportunities and the robust demand for multifamily properties.
7256 N. Bell Avenue: The property sold for $1,250,000, equating to $156,000 per unit. Constructed in the 1960s, the eight-unit building features six two-bedroom, 1.5-bath units and two two-bedroom, 1-bath units, all in vintage condition. Representing both the local buyer and seller, the property was on the market for 45 days. The buyer plans to update all units in the building, reflecting the ongoing trend of value-add opportunities in the area.
7228 N. Bell Avenue: This property sold for $1,832,000, achieving $305,000 per unit, the highest price per unit recorded in West Ridge to date. Built in 2006, the six-unit property features four three-bedroom, two-bath units and two four-bedroom, 2.5-bath units. The property attracted 10 tours and two offers within 30 days on the market. The buyer, Casey Capital Partners, was in a 1031 exchange, while the seller, Winnemac Properties, benefited from the competitive bidding process. This deal underscores the strong demand for newer construction in West Ridge.
6124 N. Talman Avenue: This property sold for $940,000 in a cash deal. The six-unit property was sold within two weeks of hitting the market, garnering 15 tours and four offers. The final negotiated cash offer was 98% of the list price. Representing both the local buyer and seller, the buyer plans a full renovation of the units, further contributing to the revitalization of West Ridge’s rental housing stock.
“These transactions highlight the strength and appeal of the West Ridge multifamily market,” said Danny Logarakis, Director at Kiser Group. “From vintage buildings with value-add potential to high-quality newer construction, West Ridge continues to attract both local and institutional investors. Each deal reflects the dynamic opportunities available in this vibrant neighborhood.”