Kiser Group has been exclusively engaged to market for sale 5833 N. Kenmore, a 56-unit, 4+1 style apartment building located in Chicago’s Edgewater neighborhood. Offered for the first time in over 30 years, this 1971 constructed asset is situated 0.2 miles from Lake Michigan, 0.2 miles from the Thorndale CTA Redline, and 0.3 miles from Lakeshore Drive.
5833 N. Kenmore features a unit mix comprised of twenty-six (26) studios, twenty-nine (29) 1 bed / 1 bath units and one (1) 2 bed / 1 bath apartment. The property also includes twenty-four (24) parking spaces and common area laundry facilities. Interiors vary in finish level, including hardwood or vinyl flooring, white and stainless-steel appliances, granite or laminate countertops, and original floor plans that have the potential to be reconfigured. As current rents are 60%+ below market (avg. $998 / month), new ownership can add significant value with light turnover work and by operating more aggressively to bring rents to market.
Located in the desirable Edgewater neighborhood, 0.2 miles from Lake Michigan and the CTA Red Line, investors are guaranteed an asset with value-add potential in a northside area that will always be sought after.