For Immediate Release: Triton Realty Group Closes $3.38 Million Across Two Chicago Church-to-Residential Sales
Summary: Triton Realty Group has successfully brokered the $3,376,300 combined sale of two historic church properties positioned for residential adaptive reuse in Chicago. The transactions include a $2,475,000 sale of 1232-1246 W. Thorndale Ave. & 5938-5950 N. Magnolia Ave. in Edgewater Glen and a $901,300 sale of 1457-59 N. Talman Ave. in East Humboldt Park. Both properties attracted multiple offers and closed within their projected price ranges, highlighting continued demand for unique adaptive reuse opportunities in Chicago.
CHICAGO, IL – October 6, 2026 – Triton Realty Group today announced the successful closing of two historic church-to-residential adaptive reuse sales totaling $3,376,300. The transactions were led by Matthew Fritzshall (Founder & Managing Principal), Harrison Cohen (Senior Vice President & Principal), and Nicole Linares (Senior Advisor), highlighting Triton’s expertise in marketing unique redevelopment opportunities to investors and developers across Chicago.
1244 W. Thorndale Ave
The first closing came at 1232-1246 W. Thorndale Ave. & 5938-5950 N. Magnolia Ave. in Edgewater Glen, which sold for $2,475,000 on September 24, 2026. Formerly known as the Bethany Evangelical Lutheran Church, which was built in 1905. The 43,545-square-foot historic church campus offered a by-right opportunity to convert the property into a 32-unit multifamily development. Located steps from the Thorndale CTA Red Line and near Lake Michigan, the property featured a completed interior demolition and near-complete architectural plans.
The planned 32-unit development includes a mix of studios, junior one-bedrooms, one-bedrooms with dens, and larger two- and three-bedroom units. The property’s historic masonry construction, vaulted sanctuary spaces, exposed timber ceilings, and transit-oriented location created a rare combination of architectural character and modern multifamily development potential.
1457-59 N. Talman Ave
The second closing took place at 1457-59 N. Talman Ave. in East Humboldt Park, where the former First Danish Baptist Church sold for $901,300 on September 25, 2026. Built in 1892, the historic masonry church was offered with a by-right plan for conversion into eight residential units. The property sold to a 1031 exchange buyer seeking a distinctive redevelopment opportunity.
The Talman property included finalized architectural plans by SPACE Architects + Planners for four one-bedroom simplex units and four two-bedroom duplexes, three of which feature private terraces. The property also offers four surface parking spaces and eight bicycle spaces. Its original brick shell, arched windows, decorative corbelling, and prominent street-facing tower provide a distinctive foundation for residential redevelopment.
“Both of these properties demonstrate the type of opportunities that require a buyer to see beyond the existing use and understand what a property can become,” said Matthew Fritzshall, Founder & Managing Principal at Triton Realty Group. “Church conversions are highly specialized transactions, and our job is to connect these unique assets with buyers who have the vision, experience, and resources to execute on their potential.”
Harrison Cohen added, "Developers are paying for certainty. When a historic building comes with zoning, plans and pre-development work already done, the buyer pool gets deeper and pricing holds. Both of these drew multiple offers for that reason."
The transactions reflect continued investor interest in adaptive reuse as Chicago developers seek opportunities to create new housing while preserving distinctive architectural structures. By-right zoning, completed or advanced planning, and established neighborhood locations can significantly reduce entitlement risk and provide developers with a clearer path from acquisition to construction.
Transaction highlights include:
• Combined Sales Volume: $3,376,300
• Thorndale/Magnolia Sale: $2,475,000
• Talman Sale: $901,300
• Total Planned Residential Units: 40
• Thorndale/Magnolia: 32-unit by-right multifamily conversion
• Talman: 8-unit by-right residential conversion
• Brokers: Matthew Fritzshall, Harrison Cohen, and Nicole Linares
• Closing Dates: September 24 and September 25, 2026
These transactions continue Triton Realty Group’s activity in Chicago’s multifamily and redevelopment markets, demonstrating the firm’s ability to identify buyers for complex properties where historic character, zoning, and adaptive reuse potential create opportunities for residential investment.
About Triton Realty Group – Triton Realty Group is a privately held, Chicago-based brokerage and acquisitions firm specializing in multifamily and mixed-use properties. With over a decade of experience in the city and surrounding suburbs, the firm has completed over 450+ transactions totaling more than 6,000 units and $650+ million in value. Triton represents investors across a range of deal sizes and uses its extensive market relationships to identify and close opportunities both on and off the market.
For Media Inquiries Contact:
Harrison Cohen Senior Vice President & Principal Triton Realty Group
5301 N. Damen Avenue | Chicago, IL 60625
847-624-6639 | harrison@tritonrealtygroup.com
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