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West Englewood Apartment Property Goes Under Contract in Less Than a Week
Kiser Group’s Birk | Sklar Team recently brokered the $1.425-million sale of 1421 W. Garfield in the West Englewood neighborhood of Chicago’s South Side. The 18-unit multifamily property went under contract in less than a week after hitting the market.
“The area has seen unprecedented growth, and assets on the boulevard typically command a premium,” said partner Aaron Sklar. “Given the asset’s proximity to public transportation and the I-90 I-94 freeways renters are attracted to the area and its accessibility from both to and from downtown Chicago.”
Each unit at 1421 W. Garfield is updated with granite countertops, built-in microwaves, HVAC units and hot water tanks. Recent improvements include a newer roof, metal porches, 100% copper plumbing and a 1200-amp electric service with in-unit circuit breakers.
“The owner plans to capitalize an already fully occupied building with plans of rental growth as the market continues to appreciate,” Sklar said.
- ◦Sale/Acquisition
