Multifamily N Illinois

Triton brokers 13-unit apartment building sale in Ravenswood

Triton brokers 13-unit apartment building sale in Ravenswood,ph1

Triton Realty Group recently sold a 13-unit, vintage apartment building located at 5063-69 N. Damen Avenue in Chicago. The asset sold for $2,200,000, which represents a $169,230-price-per-unit sale. The property had been owned by the same family for approximately 30 years.

Matthew Fritzshall, president and founder of Triton Realty Group, represented the buyer while Glen Gaode acted as the selling broker, representing his family in the sale. Built in 1917 the courtyard-style apartment building features one- and two-bedroom layouts. The property is located across the street from Winnemac Park and Amundson High School in the Ravenswood neighborhood.

“This transaction allows my local buyer-investor an opportunity to expand in their target submarket,” said Fritzshall. “Furthermore, the owner was able to achieve a top-market offer and everyone walked away from the closing table happy.”