S. Side Buildings Go on the Market

CHICAGO, IL- The Kiser Group has just announced that four large 1920′s-era buildings deep in the South Side, an area ravaged by the housing crisis, have gone on the market. Lee Kiser, principal of the Kiser Group, says the offering, totaling 207 units and strung along S. Jeffery Blvd. at 71^st St., will test whether the neighborhood has finally begun to recover from the downward spiral it underwent in the wake of the economic collapse.

“There’s nothing, no [property] offering that I’m aware of, on this scale or this quality on the South Side of this city right now. Nothing comes close,” he tells GlobeSt.com. “Pre-crash, $70,000-a-door was the market value of the property, and now they’re on the market for approximately $44,000-a-door,” or about $9.1 million. “From a historical perspective, it’s a hell of a buy.”