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Kiser Group Facilitates $17M Sale of Ravenswood MF Portfolio
Kiser Group closed the sale of Ravenswood Gardens, a distinctive portfolio sale consisting of 151 units across seven California-style buildings located in the Sheridan Park Historic District in the Uptown neighborhood on Chicago’s north side. The property was sold for $17.21 million and is being repositioned by the new owner.
This transaction was brokered by Kiser Group Advisors Katie LeGrand, Lee Kiser, and Jacob Price, who navigated complexities amidst challenging market conditions. Initially marketed in the summer of 2023, the property went under contract but did not close due to market volatility. The seller, continuing their strategic exit from Chicago, revisited the sale in 2024.
A notable component of this deal was the buyer’s assumption of the seller’s existing loan, a sub-4% interest rate locked in for the next five years. This financing structure enables the buyer to achieve strong cash returns from the outset.
