Ravenswood 13-Unit Multifamily Success: $2.22M Sale at 2610-12 W Montrose Ave
Ravenswood 13-Unit Multifamily Success: $2.22M Sale at 2610-12 W Montrose Ave
Sale at a Glance
In the heart of Ravenswood, 2610-12 W Montrose Ave captured the desires of both seasoned and aspiring investors, closing at $2,220,000 on May 3, 2018. Brokered by Matthew Fritzshall of Triton Realty Group, this 13-unit multifamily asset exemplified the enduring appeal of Chicago’s vibrant north side. The sale speaks to the future of multifamily investing in neighborhoods where community, convenience, and opportunity intertwine.
Sale Details
This transaction underscores the strong demand for multifamily properties in Ravenswood.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $2,220,000
Closed Date: May 3, 2018
Units: 13
Neighborhood: Ravenswood, Chicago
Asset Type: Multifamily
Client Relationship: Existing client
Property Highlights
Rising from a lively, tree-lined avenue, this building offered multiple attractive features for investors and residents alike.
Well-Situated: Prime Ravenswood location with access to parks, transit, and neighborhood amenities.
Unit Mix: 13 diverse apartment units catering to a range of tenants.
Classic Chicago Architecture: Brick construction, period details, and curb appeal enhance value and tenant retention.
Proven Income Producer: Strong rent history demonstrates reliable cash flow.
Key Investment Features
Investors recognized the unique promise and stability of this asset.
Desirable Neighborhood: Ravenswood continues to see increasing demand and rising rental rates.
Turnkey Opportunity: Well-maintained asset requiring minimal immediate capital improvements.
Scalability: 13 units offer operational efficiency and balanced income streams.
Long-Term Value: Held by an existing client, the property’s performance and upside were well-documented.
Market Strategy and Positioning
The sale was propelled by a targeted marketing campaign that emphasized the asset’s location, consistent income, and architectural charm. Triton Realty Group’s deep client relationships and expertise in multifamily sales enabled a seamless transaction, connecting the right buyer with a property primed for stable returns. The timing aligned with a surge in Ravenswood’s popularity, capturing both the energy of the neighborhood and the aspirations of investors seeking long-term value.
Frequently Asked Questions (FAQs)
This sale showcases the future of multifamily investment in Ravenswood, answering the call of those who see potential where history and opportunity meet.
What made 2610-12 W Montrose Ave especially attractive to buyers? Its prime Ravenswood location, stable rent roll, and classic Chicago architecture offered both security and upside.
How did the existing client relationship impact the sale? Familiarity with the asset’s performance and the owner’s goals allowed for a smooth, efficient closing.
Why is Ravenswood a sought-after neighborhood for multifamily investment? The area offers a unique blend of community feel, transit access, and lifestyle amenities, driving strong tenant demand.
What kind of buyer typically invests in properties like this? Both local investors and out-of-state buyers are drawn to mid-sized multifamily assets with proven income in core Chicago neighborhoods.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
