Rogers Park Multifamily Triumph: $1.35M Sale of 1624 W. Touhy Ave. Showcases Neighborhood's Enduring Appeal
Sale at a Glance
1624 W. Touhy Ave. stands as a testament to the timeless allure of Rogers Park, where urban vibrancy meets lakeside tranquility. This classic three-story apartment building, expertly marketed and sold by Triton Realty Group, achieved a sale price of $1,350,000 on April 22, 2021. The asset’s nine spacious two-bedroom units, paired with modern amenities and a coveted location, ignited substantial investor interest. The winning buyer, a local partnership, outshone competition in a dynamic bidding process—proving that Rogers Park remains a destination for forward-thinking multifamily investors.
Sale Details
This strategic sale underscores the expertise and reach of the Triton Realty Group team, who positioned 1624 W. Touhy Ave. for maximum exposure and value.
Sale Price & Date: Closed at $1,350,000 on April 22, 2021.
Brokerage: Triton Realty Group, with leadership from President & Founder Matthew Fritzshall and SVP & Principal Harrison Cohen.
Asset Class: Multifamily apartment building.
Competitive Process: The property attracted multiple offers, with a local partnership emerging victorious.
Investor Demand: Over 7,000+ investors were targeted during the marketing campaign.
Property Highlights
Exuding both comfort and convenience, this Rogers Park gem offers a blend of modern upgrades and classic Chicago character.
Unit Mix: Nine (9) two-bedroom, one-bathroom apartments.
Parking: Six (6) surface parking spaces—an in-demand amenity in the neighborhood.
Interior Features: Each unit boasts in-unit washer and dryer, dishwashers, and well-maintained cabinetry and appliances.
Layout: Generous bedrooms and ample living space in each residence.
Utilities: All separate utilities, reducing owner expenses.
Walkability: Steps from Lake Michigan, with effortless access to Clark Street’s retail, dining, and entertainment.
Key Investment Features
The property’s location and thoughtful updates position it as a standout asset for both stability and future upside.
Prime Locale: Nestled in a peaceful pocket of Rogers Park, east of Clark Street and within walking distance to both the Jarvis and Morse CTA Red Line Stations.
Proximity to Loyola: Just 1.2 miles from Loyola University Chicago, expanding the tenant pool and long-term demand.
Strong Renter Appeal: Modern in-unit amenities and parking elevate the living experience.
Neighborhood Momentum: Rogers Park continues to attract local and institutional investors seeking steady returns and value appreciation.
Market Strategy and Positioning
Triton Realty Group’s marketing was both broad and targeted, leveraging a robust investor database to create urgency and competition. The team’s deep neighborhood knowledge and proactive outreach resulted in multiple showings and competitive offers. By highlighting the asset’s unique blend of location, modern amenities, and income stability, the property was positioned as a rare, turnkey opportunity. The sale’s ultimate success—closing at a strong price point—reflects both the power of expert representation and Rogers Park’s increasing magnetism for multifamily investors.
Frequently Asked Questions (FAQs)
Investors and owners are drawn to the unique mix of location, amenities, and value at 1624 W. Touhy Ave. Here are some common questions:
Q: What makes the Rogers Park neighborhood appealing for multifamily investment?
A: Rogers Park offers a vibrant mix of urban amenities, lakefront access, and strong rental demand, making it a perennial favorite for both tenants and investors.
Q: How close is 1624 W. Touhy Ave. to public transportation?
A: The property is less than a 10-minute walk from the Jarvis Red Line CTA station, with the Morse station also nearby, providing easy access to downtown Chicago and beyond.
Q: What in-unit features attract residents to this building?
A: Each apartment includes an in-unit washer and dryer, dishwasher, and updated appliances—rare perks in this area that drive both tenant satisfaction and premium rents.
Q: Who purchased the property, and what was their strategy?
A: A local partnership acquired the asset, aiming to expand their footprint in Rogers Park and capitalize on the neighborhood’s growth trajectory.
Q: Were there any particular challenges in the sale process?
A: The sale proceeded smoothly, aided by strong investor interest and a well-executed marketing campaign.
Want to achieve results like this?
Contact Triton Realty Group:
Matthew Fritzshall, President & Founder – mattf@tritonrealtygroup.com | (847) 778-8746
Harrison Cohen, SVP & Principal – harrison@tritonrealtygroup.com | (847) 624-6639
Let’s turn your property’s potential into a future success story in Chicago.
