Timeless Value: 7-Unit Multifamily Corner Sale in Portage Park, Chicago
Timeless Value: 7-Unit Multifamily Corner Sale in Portage Park, Chicago
Sale at a Glance
A rare opportunity unfolded at 3851-53 N. Laramie / 5155 W. Byron, a pride-of-ownership seven-unit masonry building anchoring a prominent corner in Chicago’s Portage Park. Sold for $1,215,000 on September 21, 2026, this multifamily asset drew significant attention due to its decades-long ownership and classic construction. The sale was expertly handled by Triton Realty Group’s Matthew Fritzshall, Harrison Cohen, and Edward Liss, continuing their legacy of delivering for repeat clients in Chicago’s thriving apartment market.
Sale Details
This transaction set a benchmark for both quality and price in the neighborhood’s multifamily sector.
Sale Price: $1,215,000
Closing Date: September 21, 2026
Brokers: Matthew Fritzshall, Harrison Cohen, and Edward Liss of Triton Realty Group
Units: 7
Asset Class: Multifamily
Neighborhood: Portage Park, Chicago
Client: Existing repeat client
Property Highlights
This building stands as a testament to enduring craftsmanship and strategic positioning in one of Chicago’s classic northwest neighborhoods.
Corner Lot: Commanding presence at the intersection, maximizing light and curb appeal
Masonry Construction: Solid, durable structure with timeless character
Unit Mix: Seven spacious apartments, including two-bedroom layouts and both duplex and garden units
Pride of Ownership: Impeccably maintained over nearly four decades, with long-term stability
Ample Lot Size: Over 7,000 SF of building area on a 6,399 SF lot
Key Investment Features
Investors were drawn to this asset for its blend of stability, future upside, and location appeal.
Proven Rent Roll: Consistent income history, appealing to both seasoned and first-time multifamily buyers
Strong Neighborhood Fundamentals: Portage Park offers a blend of residential charm, transit access, and rental demand
Value-Add Potential: Opportunity exists to modernize finishes and further increase rents
Turnkey Asset: Immediate cash flow with minimal deferred maintenance
Market Strategy and Positioning
This sale was powered by a tailored marketing approach that honored the property’s legacy while projecting its future potential. The listing harnessed high-quality photography, targeted digital campaigns, and local broker relationships to attract a deep pool of qualified investors. Triton Realty Group’s experience with repeat clients and nuanced understanding of Chicago’s apartment landscape allowed them to navigate negotiations with precision, ultimately securing a premium price for a classic asset in a competitive market.
Frequently Asked Questions (FAQs)
This Portage Park sale highlights the enduring value of well-maintained multifamily assets in Chicago’s historic neighborhoods.
Q: What makes 3851-53 N. Laramie / 5155 W. Byron unique among Portage Park apartment buildings? A: Its corner location, masonry construction, and decades-long ownership set it apart as a rare long-term investment opportunity.
Q: How was the property positioned to attract buyers? A: The property’s stability, unit mix, and neighborhood fundamentals were emphasized through targeted marketing to both local and out-of-area investors.
Q: What are the future opportunities for the new owner? A: There is value-add potential by updating units and capitalizing on Portage Park’s growing rental demand.
Q: Why do investors like Portage Park for multifamily purchases? A: The area offers a unique mix of neighborhood feel, transit access, and strong rental demographics.
Q: How quickly did the property sell once listed? A: Well-marketed and priced, the property attracted immediate interest and moved swiftly through the sale process.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
