Chicago & Midwest + North Side + Retail | March 26, 2021

Kiser Group Closes Deal for Rare Lakeview Opportunity

Kiser Group advised on the $10.25-million sale of Graceway Corners, a three-story mixed-use development in the North Side’s Lakeview neighborhood. Advisors Andrew Friedman and Jake Parker along with principal and managing broker Lee Kiser represented both the seller, Keen Realty, and an undisclosed buyer.

“Opportunities to purchase properties like Graceway Corners arise infrequently,” said Kiser. “The location and several value-add strategies resulted in a large number of investors touring and making offers. We began marketing this property last July, arguably at the height of uncertainty in the market, and in a three-week time frame completed 45 tours resulting in nine offers.”

Friedman added, “Financing has been difficult during the pandemic. In this deal, we were presented unique challenges, especially due to the large proportion of retail. We are thankful to Dean Huber and the team at Walker & Dunlop for going above and beyond to procure the loan.”

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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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