A Recap of 2023’s Mid-Market Multifamily Real Estate Landscape

As we close out the first month of 2024, we’re taking a quick moment to look back at how the dust settled in 2023. According to CoStar, the 2023 sales volume for mid-market Chicagoland multifamily deals (defined as transactions under $25 million) cemented its standing as the lowest tally for sale volume in eight years – lower even than the pandemic-riddled 2020. However, amidst this challenging landscape, Kiser Group has stayed constant as a formidable force, boasting the highest sale volume of any firm, selling over $186 million in 2023.

The statistics speak for themselves, with the multifamily market registering a $1.5 billion sales volume for 2023, and Kiser Group claiming an impressive $186 million—representing a substantial 12% market share. This achievement positions Kiser Group at the forefront of the mid-market segment, solidifying its status as the leading brokerage firm in the region.

Lee Kiser, Principal and Managing Broker at Kiser Group, expressed his pride in the team’s achievements. He remarked, “Despite the challenges posed by market conditions, Kiser Group has excelled, showcasing the tenacity, savvy, and unwavering dedication of our brokers to their clients. The team’s exceptional performance and unwavering commitment to client success have played a pivotal role in the continued success of our firm.”

The Birk Sklar team ended 2023 with a remarkable milestone of 62 apartment buildings sold, totaling over $100 million in transaction value. Other standouts in 2023 were the sale of Anderson Point for $53 million by Katie LeGrand, Jacob Price and Lee Kiser; while Andy Friedman and Jake Parker closed a $31 million deconversion of the Granville Tower Condominiums. Kiser Group is proud to announce the promotion of Andy Friedman and Danny Logarakis to senior directors. The team has also welcomed new brokers Radina Dimova and Yun Park between Q4 2023 and Q1 2024

Kiser Group’s current pipeline stands at an impressive $115 million worth of contracts. With more than $210 million in multifamily properties either currently available or set to be introduced within the next 60 days, this represents a noteworthy 50% surge from the $140 million status in the previous quarter. This robust growth serves as a strong indicator of a promising outlook as Kiser Group strategically maneuvers through the evolving real estate landscape in the months ahead.


Kiser Group Staff