Turnkey Avondale Multifamily Investment Sells Fast: 3238 N. Whipple St, Chicago
Sale at a Glance
Amid the tree-lined streets of Chicago’s Avondale, 3238 N. Whipple St. stands as a shining example of a modernized multifamily investment executed with precision and vision. This fully occupied gem, blending classic architecture with contemporary upgrades, was expertly represented by Triton Realty Group, LLC—Matthew Fritzshall, James Thompson, and Jack Zamost. The property drew swift and competitive attention, ultimately selling for $895,000 to Pacific Chicago Properties, LLC on August 13, 2025. Multiple offers, a strategic best-offer call, and seamless compliance with new city regulations distinguished this sale as a blueprint for multifamily success in a high-demand neighborhood.
Sale Details
This Avondale multifamily transaction captured the essence of Chicago’s thriving investment landscape, showcasing expert brokerage and market savvy.
Sale Price: $895,000
Date of Sale: August 13, 2025
Broker: Triton Realty Group, LLC led the sale, with Matthew Fritzshall (President & Founder), James Thompson (Senior Advisor), and Jack Zamost (Associate Advisor) orchestrating the process.
Buyer: Pacific Chicago Properties, LLC acquired the building for its immediate market-rate rental income and minimal management demands.
Occupancy and Unit Mix: Three legal units plus a non-conforming unit, all fully occupied at closing for maximum cash flow.
Competitive Bidding: Property generated multiple offers, culminating in a “call for best offer” after a bustling open house and streamlined negotiations.
Regulatory Experience: Sale navigated the complexities of the Northwest Side Housing Preservation Zone, requiring buyer and broker to manage additional resident notifications and paperwork.
Property Highlights
Every detail of 3238 N. Whipple St. was crafted to attract discerning tenants and long-term investors, merging historic Chicago charm with modern convenience.
2020 Full Rehabilitation: Comprehensive updates throughout, revitalizing structure and interiors while preserving the building’s character.
High-Quality Finishes: Hardwood floors, oversized windows for natural light, and updated kitchens with dishwashers.
In-Unit Amenities: Each apartment features its own laundry and central HVAC—rare finds in the local rental market.
Spacious Living: Generously sized units, ideal for families or roommates seeking comfort and flexibility.
Desirable Locale: Situated in sought-after Avondale, with easy access to transit, restaurants, and neighborhood amenities.
Ideal for Investors: No immediate capital expenditure required, with stable occupancy and modernized systems.
Key Investment Features
This property’s profile made it a standout opportunity, fusing immediate yield with long-term neighborhood upside.
Turnkey Cash Flow: Fully stabilized asset, delivering market-rate rents from day one.
Full Tenant Roster: No lease-up period—investors step directly into steady income.
Flexible Unit Mix: Bonus non-conforming unit adds to revenue potential and future adaptability.
Strategic Compliance: Experienced brokerage ensured smooth navigation of new preservation zone requirements, eliminating transaction friction.
Prime Neighborhood Momentum: Avondale’s ongoing revitalization and renter appeal drive appreciation and sustained demand.
Market Strategy and Positioning
Triton Realty Group, LLC designed a marketing campaign that showcased the property’s recent rehab, full occupancy, and Avondale address, attracting investor attention from across the city. The team’s expertise in the nuances of the Northwest Side Housing Preservation Zone ensured that all regulatory steps, from resident notifications to additional documentation, were handled with precision—eliminating delays and mitigating risk for buyer and seller alike. By leveraging a high-visibility open house and a competitive call-for-offers, the brokers created a sense of urgency and exclusivity, ultimately driving multiple offers and a quick, successful close. Their ability to anticipate and solve challenges in a shifting regulatory environment positioned the property, and their client, for a standout result.
Frequently Asked Questions (FAQs)
The sale of 3238 N. Whipple St. brought to light several key considerations for investors and sellers in the Avondale market:
Q: How did the recent rehabilitation impact investor interest?
A: The 2020 rehab ensured that the building required no immediate upgrades, allowed for premium rents, and attracted tenants seeking modern amenities.
Q: What effect did the Northwest Side Housing Preservation Zone have on the deal?
A: The new preservation zone required specialized resident notifications and extra paperwork, but experienced brokers managed compliance efficiently, making the process seamless.
Q: Why was the open house strategy so effective?
A: The initial open house drew strong attendance, prompting multiple offers and enabling the brokers to call for best and final bids, ultimately maximizing sale price.
Q: What amenities distinguish this building from others in the area?
A: Tenants benefit from in-unit laundry, dishwashers, central HVAC, hardwood floors, and spacious layouts—features that set this property apart in the Avondale rental market.
Q: How has the buyer’s experience been since closing?
A: Pacific Chicago Properties, LLC has reported a smooth management transition, with stable occupancy and no operational issues since taking ownership.
Q: Is further value-add possible, or is the asset fully maximized?
A: While the property is currently stabilized and cash-flowing, the presence of a non-conforming unit offers future upside if regulatory conditions shift.
Want to achieve results like this?
Contact James Thompson, Senior Advisor, at (952) 607-9570 or Jack Zamost, Associate Advisor, at (847) 420-4616 to learn about Triton’s sales playbook for multifamily investment properties in Chicago.
