Kiser Group Brokers Sale of Fully Renovated 36-Unit Building in Austin for $2.6 Million

Kiser Group is pleased to announce the successful sale of a 36-unit multifamily property located at 5201 W. Washington Blvd. in Chicago’s Austin neighborhood. The property, which was listed for sale on January 16, 2025, closed on June 5, 2025, with a final sale price of $2.6 million. Kiser Group Advisors Noah Clark and Jack Petrando represented both parties in the transaction.

The building was 100% occupied at the time of sale, with one recently filled vacancy. A full mechanical and cosmetic renovation—including individual furnaces and new plumbing and electrical systems—made the property especially attractive to buyers seeking stabilized, turnkey assets.

“This property checks all the boxes for today’s investor,” said Noah Clark. “It’s a newly renovated, exceptionally well-managed building with modern finishes and fully updated systems, making it a low-maintenance, high-quality investment.”

The transaction reflects strong demand for upgraded multifamily product in the Austin neighborhood. With a price per unit of $72,000, the sale sets a high-water mark for the area and highlights a growing trend of buyers paying a premium for well-finished assets on Chicago’s West Side.

“Buyers are starting to recognize the long-term value in Austin,” added Jack Petrando. “This deal demonstrates the strength of the submarket and the increasing demand for quality buildings that are ready to perform from day one.”

The property’s updated condition and market-level rents position the new ownership to benefit from continued rent growth and operational efficiency in a strengthening area.

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