Multifamily Sale in Logan Square: 2840 N Whipple St Achieves $3.4M
Multifamily Sale in Logan Square: 2840 N Whipple St Achieves $3.4M
Sale at a Glance
2840 N Whipple St, a 12-unit multifamily property in the heart of Logan Square, Chicago, closed on January 8, 2025, for $3,400,000. Orchestrated by broker Matthew Fritzshall, this sale stands out as a testament to the enduring appeal of Chicago’s vibrant North Side neighborhoods for both residents and investors. The transaction highlights the demand for well-located, income-generating assets in one of the city’s most dynamic communities.
Sale Details
This multifamily asset drew significant attention thanks to its prime Logan Square address and investment profile.
Price: Sold for $3,400,000
Closing Date: January 8, 2025
Broker: Matthew Fritzshall
Asset Type: Multifamily
Unit Count: 12 units
Property Highlights
The building’s features speak to the desires of modern urban dwellers and discerning investors alike.
Neighborhood: Located in Logan Square, one of Chicago’s most sought-after and culturally rich areas
Scalability: Twelve-unit configuration offers operational efficiency and stable cash flow
Accessibility: Proximity to public transit, parks, and local dining enhances lifestyle appeal
Structure: Classic Chicago brick construction, built for longevity
Key Investment Features
Investors were drawn to 2840 N Whipple St by its blend of stability and growth potential.
Income: Strong rental history and rapid lease-up cycles
Location: Prime positioning within an area seeing consistent rent growth and low vacancy rates
Demand: High tenant demand fueled by neighborhood amenities and walkability
Asset Class: Multifamily properties in Logan Square remain a resilient hedge in changing markets
Market Strategy and Positioning
Matthew Fritzshall leveraged his deep understanding of the Logan Square market to craft a tailored marketing strategy that reached both local and national investors. By highlighting the property’s income stability and the neighborhood’s magnetic energy, the offering stood out in a competitive market. The timing of the sale, aligned with peak investor interest in multifamily assets, delivered a premium result and set a new benchmark for similar properties in the area.
Frequently Asked Questions (FAQs)
This sale in Logan Square stirred up many inquiries from both investors and residents:
Q: What makes Logan Square such a desirable location for multifamily investment?
A: Logan Square offers a unique blend of culture, accessibility, and steady rent growth, making it a hotspot for both renters and investors seeking long-term value.
Q: How was demand for the units at 2840 N Whipple St?
A: The property experienced consistently high occupancy and strong leasing velocity, reflecting the neighborhood’s appeal.
Q: Did the property undergo any recent updates or renovations?
A: The building maintained classic Chicago architecture with updates to key mechanicals, ensuring both charm and operational reliability.
Q: What type of investor purchased this asset?
A: The buyer profile was a private investor seeking stable cash flow and long-term appreciation in a core urban neighborhood.
Q: How does this sale compare to other multifamily trades in the area?
A: Achieving $3.4M for a 12-unit building set a new standard for similar assets in Logan Square, showcasing the strength of the market and the execution of the sales strategy.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago and discover how expert guidance can unlock the hidden potential of your real estate portfolio.
