Multifamily N Illinois

Albany Park multifamily property sells for $127,777 per unit

Albany Park multifamily property sells for $127,777 per unit,ph1

A nine-unit multifamily building sold at 3101 W. Leland Avenue in Chicago’s Albany Park neighborhood. SVN Chicago Commercial advisors Paul Cawthon and Angelo Labriola represented the seller in the transaction. The asset sold for $1,150,000, obtaining one of the highest prices per unit for an un-renovated property in that immediate area.

The asset is strategically located between the Kedzie and Francisco Brown Line “L” stations, making the property easy for commuters. The unit mix includes two- and three-bedroom units with newer windows, green space, porches and other minor improvements completed.

“The buyer was bullish on the location with the Brown Line stations being less than a block away, the corner exposure and larger-than-average unit sizes, all in an emerging marketplace,” said Cawthon.