Prime Logan Square Sale: 3245-3247 W Fullerton Avenue Commands $1.6M
Prime Logan Square Sale: 3245-3247 W Fullerton Avenue Commands $1.6M
Sale at a Glance
Located in the heart of Chicago's vibrant Logan Square, 3245-3247 West Fullerton Avenue stands as a testament to the enduring appeal of well-positioned multifamily assets in dynamic neighborhoods. Triton Realty Group’s Matthew Fritzshall orchestrated the $1,600,000 sale of this six-unit property, closing on September 8, 2021. This transaction highlights strong investor interest in boutique apartment buildings and reflects the value of established client relationships in achieving optimal results.
Sale Details
This apartment building sale showcases how thoughtful representation unlocks value in Chicago’s multifamily market.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $1,600,000
Closed Date: September 8, 2021
Units: 6
Neighborhood: Logan Square, Chicago
Asset Class: Multifamily
Client Relationship: Existing client
Property Highlights
A classic brick walk-up, this property blends timeless Chicago architecture with income stability and location-driven upside.
Boutique Scale: Six spacious apartment units, catering to renters seeking privacy and comfort.
Desirable Neighborhood: Situated in Logan Square, a rapidly appreciating area known for its nightlife, dining, and transit options.
Solid Construction: Traditional brick exterior and Chicago-style architecture enhance curb appeal and durability.
Income-Producing: Consistent occupancy and strong rental demand in a sought-after submarket.
Key Investment Features
This asset attracted attention for its blend of current cash flow and future potential.
Turnkey Opportunity: Well-maintained units requiring minimal immediate capital investment.
Value-Add Potential: Opportunities for strategic upgrades to boost rents and long-term returns.
Transit-Oriented: Proximity to CTA Blue Line, bus routes, and bike-friendly streets appeals to urban renters.
Strong Demographics: Logan Square’s growing population and revitalization drive demand for quality multifamily housing.
Market Strategy and Positioning
The property was marketed by leveraging its prime location within Logan Square and its reputation as a stable, income-producing asset with upside potential. Triton Realty Group utilized existing client relationships and targeted marketing to reach qualified investors attuned to the neighborhood’s growth trajectory. The sale’s timing capitalized on heightened demand for multifamily investments in core Chicago submarkets, and broker expertise ensured a seamless transaction from listing to close.
Frequently Asked Questions (FAQs)
This sale in Logan Square drew significant interest from investors and the local community.
Q: What makes Logan Square attractive for multifamily investors?
A: Logan Square offers a blend of strong rental demand, access to public transit, and a vibrant cultural scene, making it a top choice for both renters and investors.
Q: Were there any renovations or upgrades prior to the sale?
A: The property was kept in excellent condition, presenting a turnkey opportunity while still offering value-add potential for future upgrades.
Q: Who typically rents in this building?
A: The property appeals to young professionals, artists, and families attracted to Logan Square’s lifestyle and amenities.
Q: How quickly did the property go under contract?
A: Well-priced and expertly marketed, the building attracted swift interest and a timely sale.
Q: What sets this transaction apart in the current market?
A: The sale combined the strength of broker relationships, a desirable location, and a compelling investment story, resulting in a successful outcome for all parties.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
