Uptown Multifamily Gem: 22-Unit Apartment Portfolio Sold in Heart of Chicago
Uptown Multifamily Gem: 22-Unit Apartment Portfolio Sold in Heart of Chicago
Sale at a Glance
A coveted 22-unit multifamily property at 4901 N. Kenmore in Chicago’s vibrant Uptown neighborhood was successfully sold for $2,475,000 on October 7, 2020. Orchestrated by Matthew Fritzshall of Triton Realty Group, this sale reflects the enduring demand for well-maintained, value-driven apartment assets in one of Chicago’s most dynamic communities. The transaction stands out for its prime location and strong unit mix, offering investors a rare opportunity in a high-growth corridor.
Sale Details
This Uptown portfolio exemplified the draw of well-located multifamily assets and the power of targeted brokerage expertise.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $2,475,000
Closing Date: October 7, 2020
Units: 22 residential apartments
Location: Uptown, Chicago
Property Highlights
The property offered investors a compelling mix of classic Chicago architecture and modernized living spaces.
Diverse Floor Plans: Units ranging from 1 to 4 bedrooms, catering to a broad tenant base
Pet-Friendly: Welcoming pets with flexible lease terms
Prime Access: Steps from public transportation, lakefront, and Uptown’s cultural attractions
Historic Character: Well-maintained brick construction with vintage details
Key Investment Features
This multifamily asset attracted buyers ready to invest in Chicago’s evolving rental market.
High Occupancy Potential: Strong rental demand in a revitalized neighborhood
Value-Add Opportunity: Potential for unit renovations and rent growth
Desirable Neighborhood: Located in the heart of Uptown, a hub for dining, entertainment, and easy commutes
Stable Asset Class: Multifamily continues to shine as a resilient choice for long-term investors
Market Strategy and Positioning
Triton Realty Group leveraged deep local expertise and a soul-stirring narrative to position the property as both a secure investment and a canvas for future growth. The marketing campaign focused on the neighborhood’s resurgence and the property’s flexible unit mix, awakening interest from buyers eager to shape Uptown’s next chapter. Strategic timing ensured visibility among qualified investors, and the broker’s targeted outreach was key in achieving a swift, full-price closing in a competitive market.
Frequently Asked Questions (FAQs)
This Uptown portfolio sale captures the attention of investors seeking opportunity and stability in Chicago’s multifamily sector.
Q: What makes Uptown attractive for multifamily investments? A: Uptown is experiencing rapid revitalization, driven by its cultural venues, proximity to the lakefront, and robust demand for rental housing.
Q: How many units are in the sold property? A: The portfolio features 22 residential apartments, offering a mix of layouts for diverse tenant needs.
Q: Are there value-add opportunities for the new owner? A: Yes, the property’s classic construction and adaptable floor plans provide room for upgrades and potential rent increases.
Q: Who brokered the sale? A: Matthew Fritzshall of Triton Realty Group successfully represented the transaction.
Q: What amenities do the apartments offer? A: The apartments are pet-friendly, offer various floorplans, and are steps away from public transit and neighborhood attractions.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
