Triumph in Irving Park: 17-Unit Multifamily Sale at 3052 West Irving Park Road, Chicago
Triumph in Irving Park: 17-Unit Multifamily Sale at 3052 West Irving Park Road, Chicago
Sale at a Glance
The sale of 3052 West Irving Park Road stands as a beacon for multifamily investment achievement in Chicago’s vibrant Irving Park neighborhood. Orchestrated by Matthew Fritzshall of Triton Realty Group, this 17-unit apartment building transacted for $2,215,000 on September 8, 2022. The property, a testament to the enduring demand for well-located multifamily assets, drew strong investor interest thanks to its strategic address and solid income profile. What truly distinguishes this transaction is the repeat trust of an existing client, reflecting the broker’s deep relationships and results-driven approach.
Sale Details
A seamless transaction brought together a motivated seller and an eager buyer in the heart of Irving Park.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $2,215,000
Closing Date: September 8, 2022
Property Type: 17-unit multifamily apartment building
Client Relationship: Existing client, underscoring broker loyalty and service
Property Highlights
This classic Chicago multifamily asset shines with its blend of income stability and neighborhood appeal.
Unit Count: 17 apartments, catering to strong renter demand in Irving Park
Prime Location: Situated on a major corridor with access to public transit, dining, and retail
Solid Construction: Vintage Chicago architecture with timeless brick façade
Neighborhood Growth: Located in an area experiencing ongoing revitalization and investment
Key Investment Features
Investors recognized the value embedded in this asset, driven by a combination of scale, location, and upside.
Income Generation: Multiple units provide reliable cash flow and risk diversification
Value-Add Potential: Opportunities for future upgrades and rent growth
Proven Tenancy: Appeals to stable, long-term renters attracted by neighborhood amenities
Transit-Oriented: Easy access to CTA and major roads increases rental desirability
Market Strategy and Positioning
The sale was powered by a forward-thinking marketing strategy that highlighted the property’s scale and prime location. Leveraging deep knowledge of the Irving Park submarket, Triton Realty Group positioned the asset as a rare opportunity for both seasoned and emerging multifamily investors. The existing client relationship fast-tracked negotiations, with the broker’s trusted reputation giving all parties confidence in a smooth, efficient closing. This deal embodies how expertise and local insight can unlock hidden value and drive investor demand even in competitive environments.
Frequently Asked Questions (FAQs)
This sale captured the attention of local investors and raised key questions about the property’s appeal and neighborhood.
Q: What made 3052 W Irving Park Road stand out from other multifamily assets in Chicago? A: Its combination of 17 units, prime Irving Park location, and stable tenancy offered both immediate income and long-term upside.
Q: Was there value-add potential in this property? A: Yes, investors saw opportunities to enhance unit interiors and increase rents as the neighborhood continues to grow.
Q: How does the Irving Park location influence investment performance? A: The area’s accessibility, vibrant retail corridors, and ongoing revitalization support strong occupancy and rent growth.
Q: Why did the seller choose to work with Triton Realty Group again? A: The seller was an existing client, drawn to the personalized service and proven track record of successful sales.
Q: What type of investor was most interested in this asset? A: Both established and emerging multifamily investors competed for the property, recognizing its rare scale and neighborhood fundamentals.
Want to achieve results like this?
Contact Matthew Fritzshall to discuss your property goals in Chicago.
