Multifamily N Illinois

Triton sells 25-unit courtyard apartment building in Edgewater

Triton sells 25-unit courtyard apartment building in Edgewater,ph1

Triton Realty Group recently sold a 25-unit apartment building located at 5534-48 N. Winthrop in Chicago’s Edgewater neighborhood. The asset sold for $5,150,000, which represents a $206,000 price per unit sale.

Matthew A. Fritzshall, president and managing broker of Triton, acted as the sole broker in this transaction. Built in 1916, the property contains six two-bedroom/one-bathroom units and 19 one-bedroom/one-bathroom units. A surface parking lot with 13 spaces is located directly behind the property. The asset sits in a prime location, because it steps from the Bryn Mawr CTA red-line stop. It also has easy access for tenants to Lake Shore Drive.

“This is a trophy property. If you look up the definition of curb appeal, I think 5534-48 N. Winthrop could be a photo explaining the meaning of that word,” Fritshall said. “This transaction is special because the property is arguably one of the most unique vintage courtyard buildings on the North Side.”