Prime 14-Unit Multifamily Sale in Humboldt Park Achieves $2.32M
Prime 14-Unit Multifamily Sale in Humboldt Park Achieves $2.32M
Sale at a Glance
The multifamily property at 3129-3131 W. Augusta Blvd. in Chicago’s vibrant Humboldt Park neighborhood closed for $2,320,000 on October 22, 2024. Represented by Matthew Fritzshall and Harrison Cohen of Triton Realty Group, this 14-unit asset stands as a testament to the enduring investor demand for quality apartments in a rapidly appreciating urban corridor. The sale highlights strategic brokerage, strong market fundamentals, and the property’s blend of location and scale.
Sale Details
This Humboldt Park apartment building transaction underscores the momentum in Chicago’s multifamily market.
Brokers: Matthew Fritzshall and Harrison Cohen, Triton Realty Group
Sale Price: $2,320,000
Closing Date: October 22, 2024
Asset Type: Multifamily
Total Units: 14
Neighborhood: Humboldt Park, Chicago
Property Highlights
Positioned on a classic Chicago boulevard, the property’s structure and amenities set it apart.
Unit Mix: 14 apartments, including a strong blend of 1- and 2-bedroom layouts
Classic Architecture: Timeless brick construction with updated interiors in select units
Natural Light: Expansive windows and high ceilings bring warmth and city views
Outdoor Spaces: Units feature balconies or access to shared outdoor areas
Proximity: Steps from green space, transit, retail, and the heart of Humboldt Park
Key Investment Features
This sale showcases the attributes that drive both current returns and long-term appreciation.
In-Demand Location: Humboldt Park’s cultural richness and ongoing revitalization fuel tenant demand
Stabilized Income: Fully leased at closing, providing immediate cash flow
Value-Add Potential: Opportunity for further interior upgrades and rental upside
Strong Rent Growth: Area rents have outpaced city averages in recent years
Established Client Relationship: Repeat business reflects broker trust and performance
Market Strategy and Positioning
Triton Realty Group positioned the asset as a rare blend of scale and character in a neighborhood beloved by both investors and tenants. Strategic marketing leveraged the building’s strong occupancy, historic charm, and block-frontage appeal to attract a competitive buyer pool. The brokers’ familiarity with Humboldt Park’s dynamic trends and their deep client relationships ensured a smooth process and optimized sale price—capitalizing on sustained investor appetite for stabilized, well-located multifamily assets.
Frequently Asked Questions (FAQs)
This sale drew attention for its scale and location benefits—here’s what prospective buyers and owners often want to know:
What distinguishes 3129-3131 W. Augusta Blvd. from other area apartment buildings?
The property’s 14-unit size and updated amenities make it one of Humboldt Park’s most attractive mid-size multifamily investments.
How does Humboldt Park’s market trajectory impact future value?
Ongoing neighborhood revitalization, new retail, and enhanced park amenities support both rent growth and asset appreciation.
Were there any challenges in marketing the property?
The building’s strong occupancy required careful coordination for showings, but also demonstrated income stability to buyers.
What kind of tenants are attracted to this property?
Young professionals and families seeking proximity to green spaces, transit, and vibrant local culture.
Is there upside for new ownership?
Yes—further renovations can unlock higher rents and improve long-term returns.
Want to achieve results like this?
Contact Harrison Cohen at 847-624-6639 to discuss your property goals in Chicago.
