Kiser Group has successfully brokered the sale of a two-building multifamily portfolio near the University of Chicago for $8 million.
The portfolio includes 5111 S. University, which has 41 units, and 5135 S. Blackstone, which features 36 units, totaling 77 units. The buildings are situated on residential streets in Hyde Park and feature a mix of studio and one-bedroom apartments. With a 98% occupancy rate, the properties reflect the area’s strong demand for rental housing. TLC Management sold the portfolio to Harbor Property Management LLC, a firm that already owns nearby assets and saw an opportunity to scale its presence in the neighborhood.
Kiser Group’s Midwest team—Lee Kiser, Kyle Sissell, and Will Cornish—represented the seller, TLC Management, while Katie LeGrand and Jacob Price represented the buyer, Harbor Property Management LLC. “This transaction underscores the strength of the Hyde Park rental market and the continued investor interest in well-located assets,” said Katie LeGrand, Broker at Kiser Group.
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