Triumph in Belmont Cragin: 8-Unit Multifamily Sale at 5254 W Wolfram St, Chicago
Triumph in Belmont Cragin: 8-Unit Multifamily Sale at 5254 W Wolfram St, Chicago
Sale at a Glance
The sale of 5254 West Wolfram Street in Chicago’s vibrant Belmont Cragin neighborhood stands out as a testament to expert brokerage and strategic market timing. This 8-unit multifamily building was successfully sold by Matthew Fritzshall and James Thompson of Triton Realty for $1,200,000 on March 31, 2021. The property drew attention for its scale and value, closing as an REO deal with a strong price per unit and representing a continued relationship with an existing client. This transaction underscores the demand for well-positioned apartment assets in Chicago’s Northwest Side.
Sale Details
A classic walk-up multifamily in the heart of Belmont Cragin, this sale showcases the power of local expertise and investor demand.
Brokers: Matthew Fritzshall and James Thompson, Triton Realty
Asset Type: Multifamily (8 units)
Sale Price: $1,200,000 ($150,000 per unit)
Closing Date: March 31, 2021
Client Relationship: Existing client, reflecting repeat business and trust
Property Highlights
Set among the tree-lined streets of Belmont Cragin, this property blends classic Chicago charm with versatile unit layouts.
Unit Mix: 8 spacious apartments, offering a mix of layouts that appeal to a broad tenant base
Neighborhood: Situated in one of Chicago’s most dynamic and accessible neighborhoods
Architectural Appeal: Traditional masonry construction with curb appeal and timeless character
Proximity: Close to shopping, transit, and local amenities, driving strong renter demand
Key Investment Features
The asset’s fundamentals and positioning made it a compelling acquisition for multifamily investors seeking long-term upside.
Value-Add Potential: Opportunity for renovation or repositioning to increase rents and maximize return
Attractive Price Per Unit: Competitive pricing at $150,000 per door in a growth corridor
Stabilized Chicago Submarket: Belmont Cragin continues to experience robust occupancy and rental growth
Market Strategy and Positioning
By leveraging deep neighborhood expertise and a hands-on approach, the brokerage team at Triton Realty crafted a marketing narrative that highlighted both the property’s stability and its upside potential. Strategic exposure to their network of active investors ensured multiple offers and a quick, seamless closing. The deal’s success was amplified by the brokers’ ability to build trust with repeat clients, underscoring the value of long-term relationships in a fast-moving market.
Frequently Asked Questions (FAQs)
This sale drew interest from investors across Chicago. Here are answers to some of the most common questions about this property and transaction:
What types of units are in the building?
The property includes 8 apartments, each with classic layouts and generous living spaces typical of Chicago walk-ups.
Why is Belmont Cragin an attractive investment area?
Belmont Cragin offers strong rental demand, diverse amenities, and convenient transit options, making it a perennial favorite among multifamily investors.
Was this a fully occupied or value-add opportunity?
The building offered value-add potential, with an opportunity to renovate units and capture higher rents in a rising submarket.
How does the sale price compare to other recent multifamily deals in the area?
At $150,000 per unit, this sale reflects competitive pricing for stabilized assets in Northwest Chicago, underscoring strong investor demand.
What drove buyer interest in this specific property?
The combination of scale, location, and potential for improved returns made it highly sought after among both existing and new investors.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
