Kiser Group Brokers $13.2M Multifamily Real Estate Acquisition in Chicago's Lincoln Park

Kiser Group has brokered the off-market sale of a newly constructed 24-unit boutique apartment building located in the heart of Chicago's Lincoln Park neighborhood for $13.225 million. Directors Katie LeGrand and Jacob Price represented the seller in the multifamily real estate acquisition.

The real estate development, completed in 2025, is a five-story elevator building featuring a unit mix primarily comprised of two-bedroom, two-bathroom and three-bedroom, two-bathroom layouts. All residences include in-unit laundry, stainless steel appliances, quartz countertops and modern designer finishes.

Property Features and Location

The multifamily real estate asset offers an expansive rooftop amenity deck with panoramic city views, a pickleball court, full outdoor kitchen with grill and television, and a spacious sundeck. Additional amenities include bike storage and elevator access throughout the building.

Situated on a tree-lined Lincoln Park street, the building is located two blocks from the CTA Brown and Purple Lines at Diversey and approximately half a mile from DePaul University.

Transaction Details and Market Context

The off-market real estate acquisition came together despite the seller not initially planning a near-term sale. "A near-term sale of this asset was not really on the radar when we first walked the building with the developer," said Katie LeGrand, Director at Kiser Group. "However, inventory of similar product has been scarce in Lincoln Park—and we saw an opportunity to line up a 1031 purchaser to achieve a strong outcome."

The buyer was drawn to the opportunity to acquire a brand-new, professionally designed building in one of Chicago's most sought-after neighborhoods. The asset complements their existing nearby holdings and offers long-term value in a submarket with minimal new inventory.

Limited Supply Drives Demand

"This transaction reflects continued demand for well-located, Class A multifamily properties on the North Side," said Jacob Price, Director at Kiser Group. "Lincoln Park is seeing very limited new development, making opportunities like this particularly competitive."

Sources

Kiser Group