Calumet Courtyard Cash Close: 2145 E. 87th St., Chicago, IL 60617

Sale at a Glance

In February 2026, Triton Realty Group successfully closed the $1,475,000 sale of 2145 E. 87th St., a fully occupied 12-unit courtyard building in Chicago’s Calumet Heights neighborhood. Senior Advisors Luke Wojcik and Alex Summers represented the seller in this exclusive off-market transaction, which ultimately closed as an all-cash deal—making it one of the smoothest closings in recent memory. With updated interiors, significant capital improvements, and stable occupancy, the property delivered immediate income and long-term security for the new owner.

Sale Details

A stabilized South Side courtyard asset with strong fundamentals and recent upgrades, this discreet off-market deal exemplified efficient execution.

Final Sale Price: $1,475,000
Sale Date: February 18, 2026
Brokerage: Triton Realty Group
Lead Brokers: Senior Advisors Luke Wojcik and Alex Summers
Residential Units: 12
Building Type: Classic brick courtyard building
Occupancy at Sale: 100% occupied
Transaction Type: Off-market, all-cash purchase

Property Highlights

This well-maintained brick courtyard building offers durable construction, practical layouts, and meaningful recent improvements.

Unit Mix: (10) 2 bed / 1 bath apartments and (2) 1 bed / 1 bath apartments
Updated Units: Newer kitchens, updated bathrooms, and refinished hardwood flooring
Mechanical Improvements: New boiler installed in 2024
Exterior Capital Improvements: Roof tear-off completed in 2020
Infrastructure Upgrades: Copper plumbing throughout and new drain lines
On-Site Laundry: Basement laundry facilities for tenant convenience
Parking: 9 tandem parking spaces providing additional utility and revenue potential
Classic Courtyard Design: Traditional Chicago layout offering privacy and community appeal

Key Investment Features

This acquisition provided the buyer with immediate stability and minimized future capital expenditure risk. ·

Fully Stabilized Asset: 100% occupied at closing, ensuring immediate cash flow
Strong Unit Mix: Majority two-bedroom layouts appealing to long-term renters
Recent Capital Improvements: Major mechanical and structural updates reduce deferred maintenance
Off-Market Opportunity: Exclusive access to a stabilized asset without competitive bidding pressure
Cash Transaction: Eliminated financing contingencies, creating certainty and speed
Proven Rental Demand: Courtyard-style buildings in established neighborhoods continue to attract consistent tenancy

Market Strategy and Positioning

Triton Realty Group positioned 2145 E. 87th St. as a turnkey, income-producing courtyard asset with significant capital improvements already completed. By leveraging direct investor relationships and highlighting the building’s full occupancy, updated interiors, and completed mechanical upgrades, Luke Wojcik and Alex Summers secured a qualified buyer off-market who was prepared to move decisively.

The result was an all-cash transaction and one of the smoothest closings possible—demonstrating the strength of targeted outreach, accurate pricing, and disciplined execution from contract to close.

Frequently Asked Questions (FAQs)

Q: What made this transaction stand out?

A: The sale was completed off-market as an all-cash purchase, resulting in one of the smoothest and most efficient closings possible.

Q: What is the unit composition of the building?

A: The property consists of ten 2-bedroom/1-bath units and two 1-bedroom/1-bath units, offering a strong tenant-friendly mix.

Q: Were there recent capital improvements?

A: Yes. The building features a new boiler (2024), a roof tear-off (2020), copper plumbing throughout, new drain lines, and updated kitchens and bathrooms.

Q: Was the building stabilized at sale?

A: Yes, the property was fully occupied, providing immediate income to the buyer from day one.

Q: What amenities enhance tenant appeal?

A: Basement laundry facilities, nine tandem parking spaces, and the classic courtyard layout add convenience and long-term desirability.