CHICAGO, IL – The Collection on East Lake Terrace has been listed for sale unpriced by Chicago-based multifamily brokerage firm Kiser Group. The 11 building, 181-unit portfolio is located in Chicago’s East Rogers Park neighborhood. The seller, Lee Street Management, assembled The Collection on East Lake Terrace over a two-decade time frame. Eastlake Terrace is three blocks long and east of Sheridan Road. All of the buildings in The Collection have views of Lake Michigan. Listing agents for the assignment are Kiser Group’s Principal and Managing Broker Lee Kiser and brokers Danny Mantis and Patrick O’Brien.
“The Collection on East Lake Terrace is unique because of its scale, assemblage, geographic concentration and potential for value-add and repositioning,” said Principal and Managing Broker Lee Kiser. “We anticipate interest from local, out-of-state and international investors, especially from firms seeking immediate scale in Chicago.”
Throughout the 11 buildings, floorplans range from studio to four-bedroom units and rents range from $650 to $2,500 per month.
The Collection On East Lake Terrace Portfolio
7737 N. Eastlake Terrace features 10 units. Floorplans include one- and two-bedroom units with rents ranging from $900 to $1,380.
7736-42 N. Eastlake Terrace features 24 units. Floorplans include studio and one-bedroom units with rents ranging from $780 to $990.
7642-48 N. Eastlake Terrace features 16 units. Floorplans include one- and two-bedroom units with rents ranging from $1,105 to $1,480.
7630-38 N. Eastlake Terrace features 21 units. Floorplans include one- and two-bedroom units with rents ranging from $860 to $1,280.
7618-26 N. Eastlake Terrace features 32 units. Floorplans include one- and two-bedroom units with rents ranging from $830 to $1,300.
7606 N. Eastlake Terrace features 12 units. The rents range for one-bedroom units is $725 to $880.
7516-18 N. Eastlake Terrace features 8 units. Floorplans include studio, one- and three-bedroom units with rents ranging from $800 to $2,035.
7510-14 N. Eastlake Terrace features 17 units. Floorplans include studio, one- and two-bedroom units with rents ranging from $650 to $1,540.
1304 W. Birchwood Ave. features 4 units. Floorplans include three- and four-bedroom units with rents ranging from $1,920 to $2,500.
1310-20 W. Birchwood Ave. features 22 units. Floorplans include one- and two-bedroom units with rents ranging from $960 to $1,280.
1310-18 Howard St. features 15 units. Floorplans include one- and two-bedroom units with rents ranging from $1,030 to $1,680.
“These stabilized properties are all located within the three-block stretch of Eastlake Terrace in the northeast corner of Chicago,” said Broker Danny Mantis. “The portfolio offers investors the ability to brand and market the area as a destination and sub-neighborhood because of the density of the buildings and nearby amenities such as public access beaches, tennis courts, playgrounds, parks and Lake Michigan.”
“The portfolio, which features 1920s construction, consists of mostly one and two bedroom floorplans with a handful of studio and three bedroom units,” said Broker Patrick O’Brien. “Whether an investor is looking to modernize the units and add in-building amenities for today’s luxury renters or make simple upgrades and updates, there is a wide scale of value-add potential.”
About Kiser Group: Kiser Group is Chicagoland’s leading commercial real estate brokerage firm specializing in the disposition of multifamily, mixed-use and development parcels. Founded in 2005, Kiser Group works with diverse owners and investors to value, market and close commercial properties successfully. The firm’s unmatched combination of experience, market intelligence and track record makes Kiser Group the go-to broker for the Chicago metropolitan area.