Kiser Group’s Birk | Sklar Team recently brokered a $1.425 million transaction at 1421 W. Garfield, going under contract in less than one week after hitting the market with multiple offers. The building is located off Garfield Boulevard.
“The area has seen unprecedented growth, and assets on the boulevard typically command a premium,” Partner Aaron Sklar said. “Given the asset’s proximity to public transportation and the I-90 I-94 freeways renters are attracted to the area and its accessibility from both to and from Downtown Chicago.”
The 18-unit property has an incredibly desirable unit mix. Each unit is updated with granite countertops, built-in microwaves, HVAC units and hot water tanks. Recent improvements to the property include a newer roof, metal porches (2014), 100% copper plumbing and a 1200 amp electric service with in-unit circuit breakers.
“The owner plans to capitalize an already fully occupied building with plans of rental growth as the market continues to appreciate,” said Sklar.
