Kiser Group Brokers Record-Breaking $5.9M Sale in Morgan Park

Kiser Group is pleased to announce the sale of a 42-unit mixed-use property in Chicago’s Morgan Park neighborhood for $5,900,000, closing at full list price and achieving a record-breaking $140,000 per unit—the highest price-per-unit ever recorded in the area.

The property, listed on March 6, 2025, and closed on May 30, 2025, includes 4 commercial spaces and 38 large residential units, all configured as 2- and 3-bedroom layouts—a rare unit mix that contributed to overwhelming interest, including 10+ tours on the first day.

“This is the largest building in Morgan Park by unit count, and the oversized unit layouts made it stand out immediately,” said John George, Advisor at Kiser Group. “There’s very little product like this on the South Side—especially in a CHA Mobility Zone where demand is high and growing.”

The building was 100% occupied at the time of sale and had been self-managed by a hands-on owner who maintained it in excellent condition, with updated mechanical systems and strong tenant retention.

“There’s been a sharp increase in investor interest in Morgan Park,” said Joe Bianchi, Advisor at Kiser Group. “Just two years ago, we were selling buildings at $100K per unit in this neighborhood. This deal, at $140K per unit, reflects how quickly pricing is appreciating.”

The buyer, Craig Robinson, was drawn to the property’s size, location, and clean operations, ultimately closing with ease thanks to what the brokers described as a “collaborative and professional escrow process.”

“This sale is a great example of what’s happening in emerging South Side neighborhoods,” added George. “Buyers are recognizing the value and long-term upside—especially when assets like this come to market.”

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