Stunning Andersonville Vintage 6-Unit Sells with Adjacent Development Lot Package
Sale at a Glance
In the heart of Andersonville, 1434-1436 W. Summerdale Ave. captured the essence of classic Chicago living while unlocking a rare opportunity for future growth. This vintage six-unit building, paired with a prime RT-4 zoned side-lot, commanded a sale price of $1,976,000, closing on May 8, 2018. Facilitated by Triton Realty Group and President & Founder Matthew Fritzshall, the transaction stands out not just for its dollar value, but for its layered appeal to investors seeking both stable cash flow and the promise of new development in one of Chicago’s most desirable neighborhoods. The creative structuring and high-caliber execution of this deal reflect Andersonville’s enduring magnetism and the art of vision-driven brokerage.
Sale Details
The transaction at 1434-1436 W. Summerdale Ave. was a testament to the power of market insight and strategic deal-making.
Sale Price and Date: Closed for $1,976,000 on May 8, 2018, reflecting the combined value of the building and adjacent lot.
Brokerage: Triton Realty Group, with President & Founder Matthew Fritzshall at the helm, leveraging deep neighborhood expertise.
Asset Type: Classic six-unit center-entrance walk-up, paired with a 25x125.33 RT-4 zoned side-lot at 1430 W. Summerdale.
Buyer Profile: Local private investor—an established, repeat client of Triton—who recognized the rare dual-value proposition.
Deal Structure: Required a buyer with both the vision and flexibility to acquire a stabilized asset and a prime development site in a single, seamless package.
Property Highlights
The property embodies timeless elegance, thoughtful modernization, and an enviable address—all within reach of Andersonville’s electric urban energy.
Remodeled Interiors: Each two- and three-bedroom apartment has been recently upgraded, balancing original character with contemporary finishes.
Architectural Allure: Natural woodwork, exposed brick walls, and rich hardwood floors infuse every home with warmth and authenticity.
Tenant-Controlled Heat: Residents appreciate the autonomy and potential cost savings of managing their own heat, enhancing both comfort and operational efficiency.
Convenient Amenities: Lower-level laundry facilities simplify everyday living for tenants—a subtle, yet meaningful touch.
Serene Setting: Situated on a tree-lined side street, the building offers tranquility just steps from Andersonville’s famed Clark Street dining, shopping, and nightlife.
Accessibility: Walkable to the Berwyn CTA Red Line, #22 Clark/Balmoral bus, Foster Beach, and Chicago’s scenic lakefront.
Key Investment Features
This offering was more than a stabilized multifamily asset—it was a launchpad for future possibilities in one of Chicago’s most consistently sought-after neighborhoods.
Development Upside: The adjacent RT-4 zoned lot presents significant value-add potential, allowing for the creation of up to three new residential units, including the popular duplex-down format.
Flexible Investment Thesis: The package appealed to buyers seeking immediate rental income with the optionality to expand or redevelop as market conditions evolve.
High-Demand Locale: Andersonville’s reputation for vibrant community, eclectic retail, and enduring tenant demand underpins long-term appreciation and low vacancy risk.
Transit-Oriented: Proximity to key public transit options and major thoroughfares ensures lasting resident appeal and broadens the pool of potential tenants.
Unique Offering: Properties with this blend of vintage charm, recent renovations, and shovel-ready development land are exceedingly rare in the city’s North Side market.
Market Strategy and Positioning
Triton Realty Group recognized early that this was not a typical multifamily sale—it was a curated opportunity for the right buyer to shape Andersonville’s future while enjoying immediate returns. The team crafted a marketing narrative that celebrated both the building’s vintage pedigree and the strategic value of the side-lot, targeting investors with the creativity and resources to leverage both. By tapping into an established network and understanding the neighborhood’s pulse, Triton identified a repeat client ready to embrace the package deal, overcoming challenges around zoning, timing, and buyer qualification. This forward-thinking approach resulted in a swift sale at a premium price point, underscoring the value of local expertise and visionary deal-making.
Frequently Asked Questions (FAQs)
This landmark Andersonville sale has inspired plenty of conversation—here are the answers to some of the most insightful questions:
Q: Why was this package deal unique in the Andersonville market?A: It combined a stabilized, fully leased vintage six-flat with a buildable RT-4 zoned lot—offering both immediate income and future development upside, a rare combination in this coveted neighborhood.
Q: What kinds of development are possible on the side-lot?A: The RT-4 zoning accommodates up to three residential units, including the option for a duplex down, making it attractive for both rental and for-sale strategies in a high-demand area.
Q: How did the property’s location contribute to its appeal?A: The site’s walkability to CTA transit, Clark Street restaurants and shops, and the lakefront makes it irresistible to renters and underpins its long-term investment value.
Q: What challenges did this transaction present?A: Coordinating the sale of both the building and the lot required a buyer open to creative structuring and ready to navigate zoning nuances—a task made possible by Triton Realty Group’s market knowledge and client relationships.
Q: What kind of buyer was ultimately selected?A: A repeat local investor with a proven track record and the vision to leverage both the property’s existing cash flow and the potential of new construction.
Want to achieve results like this?
Contact Triton Realty Group, President & Founder Matthew Fritzshall, to discuss your property goals and unlock new possibilities in Chicago’s Andersonville and beyond.
