Sale at a Glance

The sale of 2735 N. Magnolia Ave in Chicago’s enduring Lincoln Park neighborhood transcended a typical multifamily transaction—closing at $1,845,000 in October 2025 through a complex choreography of four interconnected 1031 exchanges. Led by Triton Realty Group LLC’s President & Founder Matthew Fritzshall and SVP & Principal Harrison Cohen, this deal exemplifies the art of strategic property disposition and acquisition amidst Chicago’s ever-competitive investment landscape. Both buyer and seller repositioned their portfolios, leveraging the asset’s blend of vintage architecture and modern systems to unlock future value and generate immediate returns.

Sale Details

The Magnolia property sale was defined by its intricate structure, investor-focused upgrades, and a market-timed execution that maximized value for all parties.

• Sale Price & Date: Closed at $1,845,000 on October 28, 2025, reflecting Lincoln Park’s ongoing demand for stabilized, high-quality multi-family assets.

• Represented By: Triton Realty Group LLC — Matthew Fritzshall (President & Founder) and Harrison Cohen (SVP & Principal), leveraging deep-rooted expertise in Chicago’s North Side.

• Transaction Type: Single-asset transfer, not part of a broader portfolio, but pivotal within a chain of multi-asset 1031 exchanges.

• Asset Class: Five-unit multi-family property, featuring a stately front brick three-flat and a rear two-unit frame coach house.

• Occupancy: 100% leased, affirming the building’s appeal and operational strength at sale.

• Transaction Complexity: Orchestrated as one of four linked 1031 exchanges, requiring meticulous timing, legal coordination, and unwavering communication among all stakeholders.

Property Highlights

A rare fusion of timeless Chicago architecture and investor-minded amenities, 2735 N. Magnolia stands as a model of balanced asset preservation and upside potential.

• Unit Mix: Purposeful configuration with three (3) three-bedroom, one-bath units in the front brick building—ideal for families and roommates—and two (2) one-bedroom plus den, one-bath units in the coach house, catering to singles and work-from-home professionals.

• Tenant-Centric Comfort: Each unit is equipped with its own HVAC and hot water heater, empowering residents with climate control and reducing owner utility exposure.

• Supplemental Revenue: Owned common-area laundry facilities not only enhance tenant convenience but also create a steady ancillary income stream.

• Thoughtful Layouts: Generously sized floor plans, abundant natural light, and dedicated den spaces in the one-bedroom units elevate living experiences and boost demand.

• Building Longevity: Capital improvements such as updated windows, proactive tuckpointing, and a well-kept roof safeguard the property’s long-term integrity and minimize near-term capital expenditures.

Key Investment Features

This asset speaks to both immediate yield and enduring value creation, offering strategic levers for the next steward.

• Capital Improvements: Systematic updates—from individual HVAC to new catch basin and drain line—demonstrate a proactive ownership philosophy and reduce unforeseen repairs.

• Value-Add Pathways: The non-conforming garden unit presents an untapped opportunity; modernization and re-positioning could unlock a stronger income stream and further boost the property’s cap rate to a projected 6.68%.

• Expense Efficiency: With all mechanicals separated and utilities tenant-paid, operational costs are streamlined, enhancing cash-on-cash returns and overall NOI.

• Neighborhood Magnetism: Lincoln Park’s dynamic blend of historic charm, vibrant retail, acclaimed schools, and proximity to downtown ensures sustained rental demand and asset appreciation.

• Future-Proofing: A strategic unit mix, coupled with adaptable layouts and modern systems, positions the property to attract premium tenants and withstand market shifts.

Market Strategy and Positioning

From the first conversation to the closing table, this transaction was an exercise in precision and vision. Triton Realty Group designed a marketing strategy that highlighted the property’s robust infrastructure, versatile layouts, and prime Lincoln Park address. The campaign targeted seasoned investors seeking both in-place cash flow and value-add potential, generating a competitive pool of qualified buyers. The true artistry, however, lay in orchestrating the four-way 1031 exchange domino: every milestone—offers, due diligence, financing, and closing—demanded flawless synchronization. Triton’s deep market knowledge, transactional dexterity, and unwavering commitment to client goals ensured that each domino fell in perfect sequence, turning complexity into opportunity for all involved.

Frequently Asked Questions (FAQs)

This Lincoln Park sale captivated the market for its sophistication and strategic execution. Here’s what discerning investors are asking:

• Q: How rare are four-way 1031 exchange domino deals in Chicago?

  A: Such transactions are exceptionally uncommon and require an experienced brokerage team adept at managing timelines, contingencies, and the interests of multiple parties without a hitch.

• Q: What’s the long-term upside for the new owner?

  A: Beyond immediate cash flow, bringing the non-conforming garden unit to full potential and adjusting rents to reflect current market rates present significant avenues for NOI growth and appreciation.

• Q: How does the property’s mechanical setup benefit investors?

  A: Individual HVAC and hot water heaters per unit mean tenants cover their own utilities, slashing owner expenses and reducing administrative burden—translating to a more predictable and profitable investment.

• Q: Why is Lincoln Park especially attractive for small multi-family assets?

  A: The neighborhood’s blend of cultural vitality, architectural beauty, and desirable schools keeps rental demand high and turnover low, supporting long-term value.

• Q: What strategies were key to executing this complex sale?

  A: Transparent communication, meticulous timeline management, and a tailored marketing push that highlighted both stability and upside were essential in bringing all four 1031 exchanges to a successful close.

• Q: Can similar deals be achieved in today’s market?

  A: With the right combination of property fundamentals, market insight, and a brokerage team skilled in high-stakes negotiation and coordination, even intricate multi-exchange deals are possible.

Want to achieve results like this?

Contact President & Founder Matthew Fritzshall at mattf@tritonrealtygroup.com (847) 778-8746 or SVP & Principal Harrison Cohen at harrison@tritonrealtygroup.com (847) 624-6639 to discuss your investment property goals in Chicago.