Multifamily N Illinois

Triton brokers three Chicago multifamily transactions totaling over $3M

Triton brokers three Chicago multifamily transactions totaling over 3M,ph1

Triton Realty Group recently sold three apartment buildings in the West Rogers Park, Albany Park and Edison Park neighborhoods of Chicago.

The first sale, a 12-unit apartment building with adjacent lot located at 2702-2710 W. Fitch Avenue, traded for $1,600,000. Built in 1932, the four-story, vintage, L-shaped property had been owned by the same family for over 30 years. Matthew A. Fritzshall, president and managing broker of Triton and Harrison A. Cohen, vice president at Triton were the sole brokers involved in this transaction.

“This was an extremely rare opportunity to acquire a multifamily asset that has remained strong for decades,” said Cohen. “This is a once in 30 years transaction.”

Cohen facilitated another sale in the Edison Park neighborhood to a local investor for $778,500. The six-unit apartment building is located 7356 N. Harlem Avenue. The unit mix is comprised of four two-bedroom/one-bathroom units and two one-bedroom/one-bathroom units. The buyer plans to hold the property long term and realize upside potential through unit renovations over time.

Lastly, Triton was exclusively engaged to market and represent the seller of a seven-unit apartment building in the Albany Park neighborhood of Chicago. Fritzshall and Horace Grant, Jr. of Triton represented both the buyer and seller in the sale. The building is just one block from the CTA Brown Line at Kedzie and is located at 3215 W. Eastwood Avenue. The unit mix is comprised of three two-bedroom/one-bathroom units and four one-bedroom/one-bathroom units. The asset traded for $940,000.