Kiser Group Brokers Sale of Blue Station Apartments, a 345-Unit Community in Blue Island

Kiser Group Principal and Designated Managing Broker Lee Kiser and Director Kyle Sissell facilitated the $22 million sale of Blue Station, a 345-unit apartment community at 2130 W. 122nd Street in Blue Island, Illinois. Kiser and Sissell represented the seller, Kinzie Assets, and principals Andrew Brown and Charlie Clarke.

The property consists of a diverse unit mix, including 74 studio apartments, 60 one-bedroom units, 209 two-bedroom units, and 2 three-bedroom units, and was 96% occupied at the time of sale. Residents at Blue Station have access to Metra commuter rail service and major roadways. Blue Station maintains an affordable rental profile relative to many surrounding Chicago-area submarkets. Ownership invested more than $3.5 million in capital improvements over the prior four years, resulting in strong historical occupancy.

“This transaction reflects the strength of well-maintained workforce housing assets in the Chicago market,” said Kiser. “With over $3.5 million invested in capital improvements and a strong occupancy history, this property offered the buyer immediate scale and stability — exactly what investors are currently looking for in the workforce niche. We had high interest from investors, from local portfolio owners to large, national affordable housing and not-for-profit investors.”

“The capital improvements and rents at Blue Station also qualify for acceptance into AHSAP, Cook County’s tax incentive program,” said Sissell. “Kinzie was able to submit the application prior to the 2025 deadline, which means once approved the tax reduction will apply to 2025’s taxes paid in 2026. This was a meaningful part of the transaction for the buyer.”

The buyer acquired a stabilized workforce housing asset at scale, with a strong existing occupancy profile and substantial recent capital investment already in place. The buyer intends to build on the property’s existing operational foundation without taking on the renovation and lease-up risk typically associated with heavy value-add assets.

Blue Island has high demand for attainable rental housing, with elevated costs of homeownership and limited affordable rental options in many nearby communities. Well-maintained workforce housing will continue to attract a broad tenant base. The property’s scale, occupancy history, completed capital expenditures, and proximity to transportation position it well within this segment of the market.