Chicago & Midwest + Downtown + Apartments | June 8, 2022

An apartment property at 223 N Kolmar in Chicago's West Garfield Park neighborhood went under contract three weeks after hitting the market

Birk | Sklar Team Closes West Garfield Park Sale

Kiser Group’s Birk | Sklar team recently closed on a West Garfield Park property at 223 N Kolmar Ave. The property was on the market for just three weeks before it went under contract and received multiple offers, finalized with a cash offer with a four-week close.

Selling at $67,000 per unit, the property includes seven units, all two-bedroom apartments, and is fully occupied.

The buyer was a local investor in the process of expanding its portfolio in the neighborhood. The property offers the potential to renovate units and increase rents and income.

“Investors are looking to purchase in West Garfield Park as it’s an up-and-coming area and properties are appreciating year over year at a solid price,” said Kiser Group’s Jack Petrando.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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