Andersonville Vintage Apartment Gem Fetches $2.75M in Landmark Sale: 1461-1463 W. Summerdale Ave. Shines with Historic Charm and Full Occupancy
Sale at a Glance
The sale of 1461-1463 W. Summerdale Ave. in Chicago’s beloved Andersonville neighborhood marks a celebration of classic architecture, thoughtful ownership, and strategic vision. This 13-unit, meticulously maintained apartment building—held in the same family since 1986—traded hands for $2.75 million on January 16, 2020. Brokered by Triton Realty Group under the leadership of President & Founder Matthew Fritzshall, the transaction underscores the enduring demand for character-rich multifamily assets in one of Chicago’s most vibrant and walkable enclaves.
Sale Details
A building that weaves together Andersonville’s rich tapestry of history and community, this transaction epitomized the balance of heritage preservation and modern investment acumen.
Sale Price & Closing: Achieved $2,750,000, closed January 16, 2020
Brokerage: Triton Realty Group, President & Founder Matthew Fritzshall
Asset Class: 13-unit, classic Chicago brick apartment building
Occupancy: 100% leased at time of sale, reflecting consistent tenant appeal
Ownership History: Privately held by a local owner for over three decades, since 1986
Property Highlights
Every inch of this 9,200-square-foot, L-shaped building tells a story—of craftsmanship, care, and the Andersonville spirit.
Unit Mix: Ten thoughtfully designed 1-bedroom and three spacious 2-bedroom apartments
Timeless Interiors: Apartments feature hardwood floors, eat-in kitchens, and separate dining rooms—bathed in natural light
Historical Detail: Original woodwork and built-in cabinetry preserved, offering a rare window into early 20th-century design
Amenities: Onsite laundry, well-maintained common areas, and a layout that maximizes privacy and comfort for residents
Curb Appeal: The building’s classic brick façade and architectural details contribute to Andersonville’s historic streetscape
Key Investment Features
The property’s blend of stability, character, and location presented a compelling story for discerning investors.
Coveted Andersonville Address: Immersed in one of Chicago’s most cherished neighborhoods, steps from Clark Street’s vibrant retail, dining, and culture
Consistent Cash Flow: 100% occupancy at closing, with a history of low vacancy and strong tenant retention
Enduring Value: Vintage assets like this are increasingly rare, especially those stewarded by long-term owners committed to preservation
Flexible Floor Plans: Spacious layouts cater to the evolving needs of renters—ideal for singles, couples, or small families
Turnkey Condition: Decades of diligent maintenance allowed for a smooth transition to new ownership with minimal immediate capital needs
Market Strategy and Positioning
This sale was anchored by a marketing strategy that honored the building’s legacy while casting a vision for its future potential. Triton Realty Group positioned the property as a crown jewel of Andersonville—one that marries old-world elegance with modern urban living—targeting investors attuned to the neighborhood’s magnetic appeal. By showcasing the stability of full occupancy, the irreplaceable architectural details, and Andersonville’s ongoing renaissance, the team ignited significant buyer interest and fueled a competitive, efficient closing. The expertise in navigating a legacy asset—long held by a private owner—proved instrumental in crafting a seamless, story-driven transaction.
Frequently Asked Questions (FAQs)
The sale of 1461-1463 W. Summerdale Ave. in Andersonville reveals much about the possibilities within Chicago’s historic multifamily market.
Why is Andersonville such a sought-after neighborhood for multifamily investment?Andersonville offers a unique blend of small-town charm, historic architecture, and a thriving retail/dining corridor, attracting stable, long-term tenants and strong community engagement.
How did the building’s history of long-term ownership affect the sale?Decades of attentive ownership meant the property was exceptionally well maintained, preserving its historic character and minimizing deferred maintenance for the new owner.
What features made this property stand out to buyers?The authentic 1920s woodwork, spacious and light-filled units, and the unbeatable location at the heart of Andersonville distinguished this asset from more generic offerings.
What role did market timing play in the successful sale?The transaction capitalized on robust demand for vintage multifamily buildings and Andersonville’s ongoing growth, attracting multiple qualified buyers and a swift close.
What kind of investor was ultimately attracted to this building?The purchaser was a seasoned investor seeking stable, long-term returns and an opportunity to own a piece of Andersonville’s storied architectural landscape.
Want to achieve results like this?
Contact Triton Realty Group, President & Founder Matthew Fritzshall, to discuss your property goals and unlock the potential of your multifamily asset in Andersonville or across Chicago.
