Boutique Multifamily Asset in Avondale Sells for $3.1M: 3101-05 N. Francisco & 2854-58 W. Barry
Boutique Multifamily Asset in Avondale Sells for $3.1M: 3101-05 N. Francisco & 2854-58 W. Barry
Sale at a Glance
A rare 17-unit multifamily portfolio at 3101-05 N. Francisco and 2854-58 W. Barry in Chicago’s vibrant Avondale neighborhood was successfully sold for $3,100,000 on July 15, 2024. Brokered by Matthew Fritzshall of Triton Realty Group, this transaction stands out for its strategic location, solid unit mix, and strong market fundamentals, underscoring Avondale’s ongoing appeal to investors seeking future upside and stable returns.
Sale Details
This transaction showcases the demand for well-positioned multifamily assets in Chicago’s emerging neighborhoods.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $3,100,000
Closing Date: July 15, 2024
Asset Class: Multifamily
Total Units: 17
Neighborhood: Avondale, Chicago
Property Highlights
With its combination of classic Chicago architecture and updated interiors, this portfolio offers both charm and modern functionality.
Dual Addresses: Includes two contiguous buildings at 3101-05 N. Francisco & 2854-58 W. Barr
Diverse Unit Mix: 17 well-appointed units catering to a range of tenants
Prime Location: Nestled in the heart of Avondale, steps from restaurants, cafes, and public transit
Neighborhood Growth: Situated in one of Chicago’s trendiest and fastest-growing neighborhoods
Key Investment Features
This multifamily offering was crafted to attract attention from investors seeking both stability and potential for value-add.
Immediate Income: Fully leased at the time of sale, providing dependable cash flow from day one
Upside Potential: Value-add opportunities through further unit renovations and rent growth
Strong Tenant Base: Popular with young professionals and families drawn to Avondale’s dynamic atmosphere
Solid Asset Fundamentals: Brick construction, well-maintained systems, and professional management
Market Strategy and Positioning
The marketing campaign focused on Avondale’s magnetic energy and the buildings’ authentic Chicago appeal, targeting investors poised to capitalize on neighborhood momentum. By emphasizing current stability alongside future value-add opportunities, Matthew Fritzshall and Triton Realty Group positioned the portfolio as a rare chance to secure scale in a transforming submarket. Swift execution and expert deal navigation delivered a premium outcome in a competitive landscape.
Frequently Asked Questions (FAQs)
This sale generated significant interest among Chicago multifamily investors looking to tap into Avondale’s resurgence.
What makes Avondale attractive for multifamily investment?
Avondale’s rapid revitalization, diverse dining scene, and proximity to transit have spurred strong rental demand and value appreciation.
Were there any recent renovations to the properties?
Both buildings have undergone select updates, enhancing tenant appeal while leaving room for future value-add improvements.
How was tenant retention at the time of sale?
The portfolio maintained high occupancy and strong tenant retention, reflecting its desirable unit mix and location.
What types of renters are most attracted to this asset?
Young professionals, creatives, and families seeking urban convenience and neighborhood character were the primary residents.
Want to achieve results like this?
Contact Matthew Fritzshall at (847) 778 - 8746 Triton Realty Group to discuss your property goals in Avondale and greater Chicago.
