Lakeview Multifamily Sale:
3834–44 N. Wilton
Lakeview Multifamily Sale: 3834–44 N. Wilton & 933–35 W. Sheridan
Sale at a Glance
In the heart of Lakeview, 3834–44 N. Wilton Avenue and 933–35 W. Sheridan set a new benchmark for multifamily investment in Chicago. Brokered by Matthew Fritzshall of Triton Realty Group, this 20-unit property closed on September 30, 2024, for $4,850,000. The transaction highlights the enduring appeal of vintage Chicago architecture, modernized for today’s renters, and the magnetic draw of one of the city’s most vibrant neighborhoods.
Sale Details
This multifamily asset captured investor attention with its prime location and strong in-place income.
Broker Representation: Matthew Fritzshall, Triton Realty Group
Closing Date: September 30, 2024
Sale Price: $4,850,000
Unit Count: 20 apartments
Neighborhood: Lakeview
Asset Type: Multifamily
Property Highlights
The property stands out as a blend of historic charm and modern living, nestled steps from Wrigley Field and Chicago’s transit lines.
Prime Lakeview Location: Walking distance to Wrigley Field, CTA Red Line, and the neighborhood’s renowned nightlife.
Vintage Appeal, Modern Comforts: Renovated interiors with hardwood floors, granite countertops, and stainless steel appliances.
Historic Significance: Once an apartment hotel for Cubs players in the early 1900s, now reimagined for the next generation.
Strong Unit Mix: Studio and 2-bedroom layouts that appeal to a diverse tenant base.
Key Investment Features
This sale underscores the value of combining irreplaceable vintage architecture with contemporary amenities in a supply-constrained submarket.
Consistent Occupancy: High demand for rental units in Lakeview supports steady cash flow.
Value-Add Potential: Modernized units with further upside through targeted upgrades or repositioning.
Transit-Oriented: Excellent walkability and public transportation access increase tenant retention.
Neighborhood Growth: Ongoing investment and development in Lakeview continue to drive rental premiums
Market Strategy and Positioning
Triton Realty Group’s marketing strategy tapped into the property’s storied history and unbeatable location, targeting investors seeking stable, long-term returns in core Chicago neighborhoods. By emphasizing the unique blend of historic character and modern renovations, the team generated strong buyer interest and competitive offers. The sale’s timing capitalized on robust multifamily demand and the ongoing renaissance of Lakeview, achieving a premium price and swift closing.
Frequently Asked Questions (FAQs)
This transaction redefines what’s possible for multifamily investments in Lakeview. Here’s what buyers and sellers often ask:
Q: What makes this property so desirable for investors?
A: The combination of a prime Lakeview address, vintage charm, modern renovations, and steady tenant demand creates a compelling investment profile.
Q: Were there any recent renovations or upgrades?
A: Yes, many units have been updated with hardwood floors, granite countertops, and stainless appliances, blending historic character with modern convenience.
Q: Is the property close to public transportation?
A: Absolutely—residents enjoy immediate access to the CTA Red Line and multiple bus routes, making commuting and exploring the city effortless.
Q: How does the property’s history influence its value?
A: Its legacy as an apartment hotel for Chicago Cubs players adds unique appeal and connects with Lakeview’s rich heritage, making it stand out among standard multifamily assets.
Q: What type of tenants are attracted to this building?
A: The mix of studios and two-bedrooms appeals to young professionals, students, and anyone seeking the excitement of Lakeview and proximity to Wrigleyville.
Want to achieve results like this?
Contact Matthew Fritzshall at Triton Realty Group to discuss your property goals in Lakeview or across Chicago.
