Wicker Park Corner Gem: Timeless 11-Unit Apartment Sale Defines Enduring Value in Chicago’s Urban Heart
Sale at a Glance
Beneath the broad canopy of Wicker Park’s storied trees, a legacy changed hands at 1401-1403 N. Wicker Park Ave. and 1826 W. Evergreen Ave. This 11-unit, fully-leased apartment building closed for $3,000,000 on July 23, 2021—an achievement shaped by vision, timing, and the dynamic pulse of one of Chicago’s most coveted neighborhoods. Triton Realty Group LLC, led by President & Founder Matthew Fritzshall, guided the buyer to secure an asset that balances historic character with strategic investment potential. This sale stands apart for the property’s rare scale, meticulous stewardship, and a setting that awakens the city’s hidden desires for beauty, community, and future growth.
Sale Details
This transaction reflects the intersection of tradition and transformation in Chicago’s urban investment landscape.
Sale Price: $3,000,000, reflecting competitive market demand for prime multifamily assets
Closing Date: July 23, 2021, marking a milestone in the property’s nearly half-century of continuous ownership
Buyer Representation: Matthew Fritzshall, President & Founder, Triton Realty Group LLC—recognized for deep expertise in mid-market multifamily sales
Residential Units: 11, offering a flexible mix for diverse tenant profiles
Commercial Units: None, ensuring a pure residential investment play
Occupancy: 100% leased at closing, underscoring the neighborhood’s magnetic rental appeal
Property Highlights
Every brick and beam tells a story of care, authenticity, and the enduring allure of classic Chicago architecture.
Unit Configuration: The building features 8 three-bedroom/one-bath units, 2 two-bedroom/one-bath units, and a non-conforming studio—totaling 29 beds and 11 baths, ideal for maximizing rental income.
Capital Improvements: Recent upgrades include a brand new boiler and water heater, comprehensive copper plumbing and electrical updates, and a 12-year-old roof with new parapet wall—securing both comfort and longevity.
Original Details: Residents enjoy refinished oak hardwood floors, solid oak doors, and irreplaceable classic built-ins—each detail a celebration of timeless craftsmanship.
Spacious Layouts: Each residence offers a generous living room and separate dining room, inviting gatherings and a sense of home rare in today’s market.
Corner Presence: With three affiliated addresses and an iconic corner location, the building commands attention and offers unparalleled natural light.
Lifestyle Location: Directly across from Wicker Park itself, steps from the Blue Line, the 606 trail, vibrant local dining, and immediate expressway access—blending urban excitement with neighborhood tranquility.
Long-Term Ownership: Meticulously maintained by a single owner for over 45 years, ensuring a foundation of pride and stability seldom found.
Key Investment Features
This asset’s value radiates from its soul—a rare fusion of history, opportunity, and irreplaceable location.
Prime Wicker Park Address: True Class A positioning in one of Chicago’s most sought-after residential and cultural destinations.
Turnkey Stability with Upside: Fully leased with a legacy of reliable cash flow, while still offering significant light value-add and reposition potential for the next steward.
Historical Occupancy: Decades of unwavering demand validate the investment’s resilience and future promise.
Architectural Integrity: Original woodwork and vintage charm create a resident experience that stands apart in a sea of generic offerings.
Parkfront Appeal: Direct access to Wicker Park’s green space, events, and community life elevates quality of living and tenant retention.
Transit-Driven Demand: Walkable to multiple CTA lines and major thoroughfares, ensuring ongoing desirability for a broad tenant base.
Flexible Unit Mix: Appeals to families, professionals, and roommates alike, maximizing occupancy and rent growth potential.
Market Strategy and Positioning
The marketing strategy for this property was rooted in storytelling—bringing to life not just the numbers, but the spirit of a building that has anchored its corner for generations. The campaign highlighted the building’s unique blend of vintage allure and modern upgrades, drawing in buyers seeking both stability and future potential. By emphasizing its prime parkfront setting, walkability to transit, and meticulous maintenance history, the listing stood out as a generational opportunity in a hyper-competitive marketplace. Triton Realty Group’s deep neighborhood expertise and nuanced approach ensured that the property’s legacy was honored, while also illuminating its untapped possibilities for value-add repositioning and sustained long-term growth.
Frequently Asked Questions (FAQs)
This Wicker Park sale is a magnet for both seasoned investors and visionaries seeking to shape the neighborhood’s next chapter.
Q:What types of tenants are attracted to this property?
A: The building’s spacious three-bedroom units and flexible layouts attract a mix of families, young professionals, and roommates who value vintage charm and proximity to park amenities.
Q: How does the building’s maintenance history impact its value?
A: Decades of attentive ownership, recent mechanical upgrades, and preserved architectural features make this a low-risk, high-reward acquisition with minimal near-term capital needs.
Q: What distinguishes this building from other multifamily assets in Chicago?
A: Its irreplaceable parkfront corner, original craftsmanship, and rich ownership history set it apart from newer or less character-rich alternatives.
Q: Are there immediate opportunities for the new owner to add value?
A: Light renovations and strategic unit upgrades can further enhance rents and appeal, while maintaining the property’s soul and authenticity.
Q: How does Wicker Park’s market trajectory bolster long-term investment returns?
A: The neighborhood’s ongoing evolution—anchored by culture, connectivity, and community—promises steady appreciation, strong rental demand, and resilience through market cycles.
Q: Is there potential to reconfigure the unit mix or add amenities?
A: The property’s flexible layouts and generous common areas offer opportunities for creative reimagining, such as amenity enhancements or higher-end unit finishes.
Want to achieve results like this?
Contact Matthew Fritzshall, President & Founder, Triton Realty Group LLC, at mattf@tritonrealtygroup.com or (847) 778-8746 to explore your own legacy in Chicago’s most dynamic neighborhoods. Let’s awaken the future together.
