Andersonville’s Premier Boutique Apartment Building: Fully Renovated 6-Unit Sale Showcases Chicago’s Investment Potential
Sale at a Glance
On June 13, 2019, 1656-1658 W. Summerdale Ave. in Chicago’s vibrant Andersonville neighborhood changed hands for $1,815,000. Orchestrated by Triton Realty Group, this transaction united a retired local attorney—an experienced apartment investor—with a rare, stabilized, and meticulously renovated six-unit asset. The sale exemplified the ongoing demand for high-quality multifamily investments in one of Chicago’s most dynamic communities, where classic architectural charm meets modern urban living.
Sale Details
This transaction demonstrates what’s possible when vision, timing, and expert representation converge in a coveted Chicago submarket.
Sale Price & Closing: Sold for $1,815,000, closing on June 13, 2019
Brokerage Representation: Triton Realty Group, leveraging deep market expertise
Building Type: Classic Chicago side center entrance, six-unit brick construction
Unit Mix: All units are spacious 2-bedroom, 1-bath apartments designed for comfort and style
Buyer Profile: Retired local attorney with a focus on long-term, income-producing apartment investments
Marketing Strategy: Full exposure to a curated network of local and national investors, maximizing competition and sale price
Property Highlights
This mid-sized multifamily building stands as a testament to thoughtful renovation and strategic repositioning—delivering the lifestyle today’s renters crave.
Complete Modernization: Top-to-bottom renovation featuring open-concept living, designer finishes, and high-efficiency systems
Gourmet Kitchens: Sleek stainless steel appliances, premium cabinetry, and stone countertops bring culinary inspiration to daily living
Luxury Bathrooms: Thoughtfully reimagined baths offer spa-like comfort, elevating the resident experience
In-Unit Laundry: Rare for the neighborhood, each unit boasts its own washer/dryer, adding a high-value amenity
Outdoor Retreat: Shared outdoor space provides a peaceful escape and a sense of community in the heart of the city
Prime Location: Nestled moments from Andersonville’s iconic restaurants, boutique shops, leafy parks, and public transit
Key Investment Features
This asset’s appeal is woven from both its physical transformation and its strategic positioning in a neighborhood where demand never sleeps.
Stabilized, Turn-Key Investment: Fully leased with market-rate tenants, generating immediate and predictable cash flow
High-End Tenant Profile: Renovations and amenities attract discerning renters willing to pay a premium for quality and convenience
Reduced Capital Expenditures: Recent full modernization ensures minimal near-term maintenance, optimizing returns
Andersonville’s Magnetism: One of Chicago’s most resilient and diverse rental markets, known for its walkability, safety, and vibrant community life
Long-Term Value: Timeless architecture paired with modern upgrades positions the asset for appreciation and continued tenant demand
Market Strategy and Positioning
Triton Realty Group’s approach was both targeted and visionary. Recognizing the property’s rare blend of historic charm and contemporary luxury, the team crafted a narrative that celebrated its transformation and market stability. Through professional marketing materials, strategic outreach, and personal connections, Triton generated strong interest from a curated pool of investors. Their nuanced understanding of Andersonville’s rental dynamics and their reputation for integrity and results enabled a seamless transaction, matching the asset with a buyer whose long-term vision aligned perfectly with the building’s potential.
Client Testimonial
“Triton Realty Group has been a tremendous partner with us over the last decade. We have closed many deals with them and they always do a great job. Whether helping us find a great off-market deal for a project or helping us sell a stabilized repositioned asset, their team is stacked with hard working, likeable, and intelligent brokers. When business associates become good friends you know you have a good thing going.....keep up the good work, Triton!”— Adam Saffro, Principal & Co-Founder of New Era Chicago
Frequently Asked Questions (FAQs)
The story of 1656-1658 W. Summerdale Ave. sparks curiosity among investors and property owners eager to unlock Andersonville’s potential.
Q: Why is Andersonville such an attractive neighborhood for multifamily investors?A: Andersonville’s blend of historic architecture, thriving local businesses, and a strong sense of community creates enduring demand, low vacancy rates, and above-average rent growth—making it a perennial favorite among investors.
Q: How did the building’s renovations influence leasing and resale potential?A: The full-scale modernization, from designer kitchens to in-unit laundry, not only enabled premium rents but also broadened the pool of high-quality tenants and future buyers, enhancing both short- and long-term value.
Q: What marketing strategies helped achieve top dollar for this property?A: Triton Realty Group deployed a multifaceted campaign—combining direct outreach, targeted digital marketing, and leveraging relationships with active investors—to ensure maximum exposure and competitive bidding.
Q: What sets this transaction apart from other recent apartment sales in the area?A: Few buildings offer the trifecta of complete renovation, full occupancy, and a prime Andersonville location, making this sale a true benchmark for quality and investor confidence.
Q: What can new owners expect in terms of operational management and returns?A: With all major capital improvements recently completed and strong tenant retention, the new owner stepped into a low-maintenance, high-yield asset well-positioned for lasting returns.
Want to achieve results like this?
Contact Triton Realty Group—President & Founder Matthew Fritzshall and SVP & Principal Harrison Cohen—to discuss your property goals and unlock the full potential of your investments in Chicago’s most dynamic neighborhoods.
