Kiser Group has brokered a $15M portfolio in the UIC Medical District. The seller University Rentals UIC sold the property to Bay Laurel Partners in an off-market deal. The portfolio is strategically located in close proximity to UIC and Rush hospitals.
The portfolio comprises a mix of 25 two-bedroom one-bathroom units, 9 three-bedroom two-bathroom units, 7 three-bedroom one-and-a-half-bathroom units, and 7 two-bedroom two-bathroom units, offering a diverse range of housing options.
The acquisition of this portfolio offers Bay Laurel Partners an opportunity to establish a significant presence in the UIC Medical District, which is a challenging neighborhood to become a large owner. This deal also sets a new benchmark for the price per door for a value-add property in the UIC Medical District, according to associate Will Cornish.