Historic Family 2-Flat Sold in Andersonville: 1506 W. Olive Avenue Achieves Multiple Offers
Historic Family 2-Flat Sold in Andersonville: 1506 W. Olive Avenue Achieves Multiple Offers
Sale at a Glance
In the vibrant heart of Andersonville, 1506 W. Olive Avenue has closed for $820,000, marking the end of an era for a property held by the same family for over 50 years. Triton Realty Group’s Alex Summers successfully brokered the sale of this rare, extra-wide 2-flat on October 23, 2026, to enthusiastic first-time homebuyers. The property’s rich history, oversized lot, and classic Chicago layout drew strong market interest, resulting in a smooth, multi-offer transaction.
Sale Details
A classic Chicago two-flat, 1506 W. Olive Avenue stood out for its story as well as its numbers.
Closed Price: $820,000
Sale Date: October 23, 2026
Broker: Alex Summers, Triton Realty Group
Units: 2 jumbo 3-bedroom, 1-bath apartments
Lot Size: Extra-wide 30' x 135'
Neighborhood: Andersonville
Property Highlights
A unique opportunity blending historic charm with expansion potential on an oversized city lot.
Layout: Each unit features separate living and dining rooms, maximizing space and comfort
Lot Dimensions: The coveted 30’ width offers more yard and building expansion options than the typical city lot
Bedroom Count: Both units are spacious 3-bedrooms—ideal for families or savvy investors
Family Legacy: First time available in over half a century, offering new owners a rare slice of Andersonville history
Key Investment Features
This Andersonville two-flat offered a distinctive value-add investment or owner-occupant opportunity.
Value-Add Potential: Both units present options for updates and customization, unlocking future appreciation
Multi-Offer Demand: The property generated multiple offers, underscoring its desirability in a supply-constrained market
Prime Location: Steps from Andersonville’s shops, dining, and transit, ensuring strong long-term demand
Market Strategy and Positioning
The sale of 1506 W. Olive Avenue was thoughtfully positioned to honor its long family history while highlighting its untapped potential. Marketing focused on the oversized lot, flexible floorplans, and the emotional connection to Andersonville’s community roots. By targeting both investors and end-users, Triton Realty Group generated significant competitive interest, resulting in multiple offers and a swift, seamless closing. Broker expertise and careful stewardship of the process ensured that the sellers’ legacy was respected and the buyers’ vision for the future could take root.
Frequently Asked Questions (FAQs)
A classic Andersonville two-flat, 1506 W. Olive Ave. inspired questions from both buyers and neighbors:
What makes a 30’ wide lot special in Chicago? Most city lots are only 25’ wide, so a 30’ lot allows for larger floorplans, extra yard space, and more future flexibility.
Were there any recent updates or renovations? The property was lovingly maintained by the same family for decades, offering a blank canvas for the next owner’s vision.
Who bought the building? The two-flat was purchased by a first-time homebuyer couple drawn to Andersonville’s neighborhood feel and the possibilities the property offered.
Why did this building generate multiple offers? Its rare lot size, classic layout, and prime location in a sought-after neighborhood made it a standout opportunity.
How long was the property on the market? Due to strong demand and effective marketing, the sale process moved swiftly from listing through closing.
Want to achieve results like this?
Contact Alex Summers to discuss your property goals in Chicago.
