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Kiser Closes on Historic “The Castle” Morgan Park Property
Kiser Group closed on a unique property in the Morgan Park neighborhood of Chicago. The property, known as “The Castle,” is located at 2324 W. 111th Street and is a symbol of the neighborhood’s history. This transaction, brokered by Advisors John George and Joe Bianchi, resulted in a final price of $1.925 million.
Originally built in the late 1800s as a funeral home, it was later converted to a mixed-use property in the 1920s. “The Castle’ is entirely constructed of 16-inch concrete. The property presented an exceptional investment opportunity, with all 16 residential units vacant at the time of sale.
“The Beverly/Morgan Park market is extremely hot right now. Demand for properties in this neighborhood is significantly outpacing supply. Most transactions in this area are happening off-market, and buyers are willing to pay north of $100,000 per unit, a trend that has not been seen in years past,” said George.
