Six-Unit Lincoln Square Apartment Building Sells for $1.3M—Showcasing Neighborhood Demand
Six-Unit Lincoln Square Apartment Building Sells for $1.3M—Showcasing Neighborhood Demand
Sale at a Glance
4400 N. Seeley, a classic six-unit apartment building in Chicago’s sought-after Lincoln Square, was sold for $1,300,000 on June 1, 2024. Brokered by Matthew Fritzshall of Triton Realty, this transaction underscores the enduring appeal of multifamily investments in one of the city’s most vibrant neighborhoods. The sale highlights not just strong pricing, but also the continued investor demand for well-located, mid-sized assets in Chicago’s North Side.
Sale Details
This successful sale reflects both strategy and expertise in the marketing of boutique multifamily assets.
Broker: Matthew Fritzshall, Triton Realty
Sale Price: $1,300,000
Closing Date: June 1, 2024
Unit Count: Six apartments
Neighborhood: Lincoln Square, Chicago
Property Highlights
Situated at the intersection of Seeley and Montrose, 4400 N. Seeley offers classic Chicago architecture and walkability.
Prime Location: In-demand Lincoln Square, with immediate access to restaurants, shopping, and transit
Historic Charm: Vintage brick construction with attractive curb appeal
Stabilized Asset: Fully leased at the time of sale, reflecting strong rental demand
Turnkey Investment: Well-maintained common areas and updated systems
Key Investment Features
This building’s blend of stability and upside potential made it a magnet for investors seeking security and growth.
Consistent Cash Flow: Six stabilized units, providing immediate income
Desirable Unit Mix: Layouts appealing to a variety of renters, from young professionals to small families
Strong Neighborhood Fundamentals: Lincoln Square’s low vacancy rates and rising rents promise long-term value
Transit-Oriented: Close to CTA Brown Line, bus lines, and major arteries
Market Strategy and Positioning
The sale of 4400 N. Seeley was driven by a targeted marketing campaign that emphasized the building’s stability and prime location. Triton Realty leveraged professional photography, digital advertising, and its robust investor network to generate interest from both local and out-of-state buyers. The property’s timely launch, strategic pricing, and clear communication of its value proposition led to a smooth transaction—demonstrating both the power of local expertise and the strength of Chicago’s multifamily market.
Frequently Asked Questions (FAQs)
Interested in the story behind 4400 N. Seeley? Here’s what investors are asking:
Q: What set this property apart from others in Lincoln Square?
A: Its fully stabilized rents, walkable location, and classic architecture made it a standout among mid-sized multifamily options.
Q: How quickly did the property sell after listing?
A: The building attracted immediate attention and moved efficiently through the sale process due to strategic marketing and pent-up demand.
Q: What type of investors were most interested?
A: The asset appealed to both local and national investors seeking stable, income-producing properties in supply-constrained neighborhoods.
Q: Were there any recent upgrades or renovations?
A: The building featured updated mechanicals and well-maintained common areas, reducing capital expenditure risk for the new owner.
Q: Why is Lincoln Square such a coveted market for multifamily investors?
A: The neighborhood’s vibrant mix of amenities, historic charm, and strong rental fundamentals continue to drive investor interest and price appreciation.
Want to achieve results like this?
Contact Matthew Fritzshall at Triton Realty to discuss your property goals in Chicago’s North Side.
