Kiser Group, Chicagoland’s leading multifamily brokerage firm, lists Park Ridge Commons in Des Plaines, IL, a 752-unit multifamily property. The asset is being marketed by Kiser Group’s Matt Halper, Danny Mantis and Lee Kiser.
“The suburban multifamily market is in high demand from both renters and investors, and this asset’s proximity to O’Hare and the I-294 employment corridor makes it very attractive,” said Kiser Group Director Danny Mantis. “While the pandemic created uncertainty across some industries and sectors, the multifamily industry outperformed expectations, and we continue to see high rates of investment here in suburban Cook County.”
The garden complex’s 752 residential units are spread across 47 buildings with a mix of one bedroom/ one bathroom, two bedroom/ one bathroom, and two bedroom/ two bathroom units. The property has historically high occupancy and is located close to shopping centers, restaurants, Metra and O’Hare Airport. Residents enjoy amenities such as a clubhouse, lap pool, fitness center, tennis court and free storage.
“There’s a strong appetite for naturally occurring affordable housing,” said Kiser Group Director Matt Halper. “Park Ridge Commons has been well-maintained and has higher-end amenities than competing properties in the same niche.”
“The multifamily market remains one of the strongest sectors in commercial real estate,” says Principal and Managing Broker Lee Kiser. “Park Ridge Commons is an exceptional multifamily property, and we’re excited to bring out one of the largest investment opportunities in Chicagoland this year.”