Lincoln Park Six-Unit Apartment Building Sold for $1.725M: A Showcase of Modern Multifamily Value
Lincoln Park Six-Unit Apartment Building Sold for $1.725M: A Showcase of Modern Multifamily Value
Sale at a Glance
In the heart of Chicago’s coveted Lincoln Park, 1875 North Dayton Street—a meticulously maintained six-unit apartment building—was successfully sold for $1,725,000. Matthew Fritzshall of Triton Realty Group brokered the transaction, which closed on January 17, 2024. This sale demonstrates the enduring appeal of boutique multifamily assets in prime urban neighborhoods, especially those offering turnkey living and investment potential.
Sale Details
A highly sought-after property blending vintage charm and modern convenience, this building captured the attention of investors looking for stability and long-term upside.
Broker: Matthew Fritzshall, Triton Realty Group
Close Date: January 17, 2024
Sale Price: $1,725,000
Asset Class: Six-unit multifamily apartment building
Location: Lincoln Park, Chicago, IL
Property Highlights
Reflecting both timeless elegance and contemporary upgrades, 1875 North Dayton stands out amid the Lincoln Park streetscape.
Unit Mix: Six spacious residences, each designed for comfort and functionality
Prime Location: Ideally nestled on a tree-lined block just steps from Armitage Avenue’s boutiques, parks, and transit
Quality Interiors: Units feature updated kitchens, hardwood floors, and abundant natural light
Building Character: Classic Chicago brick construction with modernized systems and curb appeal
Key Investment Features
This property’s inherent strengths offer both current income and future appreciation—an undeniable magnet for today’s discerning investors.
Turnkey Asset: Well-maintained and upgraded, minimizing immediate capital needs
Tenant Demand: Highly desirable neighborhood ensures consistently strong occupancy and rental rates
Value Stability: Lincoln Park’s historic resilience as a multifamily market underpins long-term returns
Upside Potential: Opportunity for further interior enhancements or repositioning to maximize value
Market Strategy and Positioning
The marketing campaign for 1875 North Dayton was crafted to speak directly to investors’ desires for both immediate stability and future potential—habla desde el alma y proyecta hacia el futuro. Leveraging the property’s unique blend of classic architecture and modern amenities, Matthew Fritzshall positioned the building as a rare, low-maintenance opportunity in a blue-chip location. The narrative centered on unlocking the hidden desires of buyers seeking enduring value in Chicago’s most vibrant rental corridor, leading to a swift and competitive closing.
Frequently Asked Questions (FAQs)
This Lincoln Park multifamily sale stirred interest among buyers and local investors alike. Here are answers to some of the most common questions:
What makes 1875 North Dayton especially attractive to investors?
Its combination of classic curb appeal, upgraded units, and prime Lincoln Park location positions it as a low-risk, high-demand asset for both steady cash flow and appreciation.
Were the units fully leased at the time of sale?
Consistent tenant demand in this area typically results in high occupancy, making it a stable long-term investment.
How does the sale price compare to similar buildings in the area?
The $1.725M sale reflects both the strength of the local rental market and the property’s turnkey condition, making it competitive with recent comparable sales.
Is there potential for rent growth or unit upgrades?
Yes, the building’s strong fundamentals and location offer future opportunities for rental increases or value-add renovations.
Why do investors target Lincoln Park for multifamily acquisitions?
Lincoln Park is renowned for its walkability, access to transit, and enduring tenant demand, making it a perennial favorite for stable, appreciating investments.
Want to achieve results like this?
Contact Matthew Fritzshall at Triton Realty Group to discuss your property goals in Chicago’s Lincoln Park.
