Kiser Group Brings to Market The Hazelton, 60-Unit Apartment Building in Uptown

Kiser Group’s Advisors Katie LeGrand and Jacob Price just listed The Hazelton, a 60-unit apartment building located in Chicago’s vibrant Uptown community.

A building with rich history, 851 W. Montrose was originally constructed in 1915 as the Montrose Hotel. This landmark property was meticulously renovated and rehabbed in 2019 by ownership, who hired a local construction company with specialty in restoration projects, to ensure the highest quality product was delivered. The result is a beautiful community-focused building that seamlessly blends historic charm with modern amenities, which include a tenant lounge that was formerly a speakeasy, gym and bike room.

Residing only two blocks from Montrose Beach, with easy access to downtown via the Wilson CTA Red Line, the building’s location drives consistently high occupancy of 100%.

“The Hazelton represents a powerful investment opportunity with assumable debt at 4.72% interest through 2035,” said Katie LeGrand, at Kiser Group. The Hazelton further fosters the Uptown community by providing affordable housing to 30% of the building. “Qualifying for the Affordable Housing tax incentive through AHSPA [Affordable Housing Special Assessment Program], new ownership will be able to reap tax benefits for years to come.”

“Market trends along the North side of the city suggest that there is low inventory for this type of product, with many local buyers and lots of pent-up demand on the sidelines.” said Jacob Price at Kiser Group. “We know investors will be drawn to the opportunity to own a well-situated asset that requires no immediate capital expenditures, and is poised to deliver long-term value in a changing market.”

Click here to read the full story by Connect CRE. 


Kiser Group Staff