Off-Market Multifamily Success in Belmont Cragin: 13-Unit Apartment Sale Surges to $1.4M
Off-Market Multifamily Success in Belmont Cragin: 13-Unit Apartment Sale Surges to $1.4M
Sale at a Glance
In the heart of Chicago's vibrant Belmont Cragin neighborhood, Triton Realty Group’s Harrison Cohen brokered the off-market sale of a 13-unit multifamily property spanning 5501-5507 W. Wellington Ave. and 2954 N. Linder Ave. The deal, which closed on July 28, 2021, achieved a sale price of $1,400,000—a testament to both strategic outreach and the enduring appeal of quality apartment inventory in Northwest Chicago. This transaction stands out as a direct mail success story, connecting motivated sellers with strong multifamily demand in a thriving locale.
Sale Details
A seamless transaction unfolded for this multifamily asset, leveraging smart marketing and deep neighborhood knowledge.
Broker: Harrison Cohen, Triton Realty Group
Sale Price: $1,400,000
Closed Date: July 28, 2021
Units: 13 apartments
Neighborhood: Belmont Cragin, Chicago
Source: Off-market, direct mail campaign
Property Highlights
Spanning two key corners in Belmont Cragin, this property offers investors a rare, stabilized opportunity.
Prime Location: Situated at 5501-5507 W. Wellington Ave. and 2954 N. Linder Ave., surrounded by local amenities and transit corridors.
Unit Mix: 13 residential apartments, ideal for steady cash flow.
Neighborhood Growth: Located in one of Chicago’s established, renter-friendly communities.
Strong Occupancy: Consistently leased, reflecting robust tenant demand in the area.
Key Investment Features
The property’s fundamentals and market positioning fueled a competitive sale.
Turnkey Asset: Well-maintained building with proven rental history.
Value Stability: Multifamily assets in Belmont Cragin continue to see resilient values amid shifting market cycles.
Off-Market Advantage: Secured through direct owner outreach, minimizing competition and maximizing value for buyer and seller.
Neighborhood Demand: Ongoing population growth and rental demand support long-term investment performance.
Market Strategy and Positioning
This sale exemplifies the power of targeted, relationship-driven marketing in Chicago’s multifamily sector. By deploying a direct mail campaign, Harrison Cohen and Triton Realty Group identified motivated owners and matched them with buyers ready to act. The off-market approach minimized noise, creating a focused negotiation environment and ensuring a smooth, timely closing. The brokerage’s deep neighborhood expertise and personalized outreach set this transaction apart, delivering results beyond expectations.
Frequently Asked Questions (FAQs)
This Belmont Cragin multifamily sale demonstrates the energy and opportunity alive in Chicago’s apartment market.
What made this property stand out to buyers?
Its stabilized occupancy, strong rental history, and location near major amenities drew significant interest.
How was the buyer sourced?
The sale was initiated and completed off-market through a targeted direct mail campaign, creating a unique opportunity for both parties.
Why is Belmont Cragin attracting multifamily investment?
The area offers a blend of affordability, community feel, and steady tenant demand, making it a magnet for investors seeking strong fundamentals.
What role did the broker play in the transaction’s success?
Harrison Cohen’s direct outreach, local knowledge, and negotiation skills were pivotal in ensuring a smooth, high-value closing.
Are similar opportunities available in Chicago’s Northwest Side?
Off-market deals remain possible, but require proactive strategies and deep market connections.
Want to achieve results like this?
Contact Harrison Cohen to discuss your property goals in Chicago.
