Cornerstone Investment Realized: 5501 N. Glenwood Ave. & 1352-1354 W. Catalpa Ave. | Prime 6-Unit Apartment Sale in Chicago’s Edgewater
Sale at a Glance
In the heart of Chicago’s vibrant Edgewater and Andersonville neighborhoods, a stately 6-unit apartment building at the intersection of Glenwood and Catalpa presented a rare opportunity for multifamily investors. On January 15, 2011, Triton Realty Group successfully brokered the $560,000 sale to a local private investor, closing at full occupancy despite lingering market uncertainty after the Great Recession. The property’s prominent corner location, generous floorplans, and clear value-add upside set this transaction apart, marking a significant milestone for both seller and buyer.
Sale Details
This transaction exemplified strategic brokerage and investor vision, transforming a stabilized asset into a platform for future growth.
Sale Price & Date: $560,000, closed on January 15, 2011
Brokerage & Representation: Orchestrated by Triton Realty Group, led by President & Founder Matthew Fritzshall
Buyer Profile: Local private investor actively building a diverse Chicago real estate portfolio
Occupancy at Sale: 100% leased, ensuring immediate revenue stream for new ownership
Asset Overview: Classic center-entrance 6-flat, comprised entirely of residential units
Property Highlights
This building stood out for its blend of timeless architecture, location, and functional design, fueling strong tenant demand and long-term investor appeal.
Prominent Corner Lot: Enhanced visibility and curb appeal at a key neighborhood intersection
Spacious Layouts: All six units are large 2-bedroom, 1-bath apartments—an ideal mix for the area’s rental demographic
Architectural Character: Center-entrance design, vintage details, and a substantial footprint uncommon in the submarket
Turnkey Stability: 100% leased at sale, providing instant income and operational continuity
Key Investment Features
The asset offered a compelling combination of stability and opportunity, positioning the buyer for immediate returns and future gains.
Value-Add Upside: Well-proportioned units with potential for cosmetic upgrades and rent increases as market conditions improve
Desirable Tenant Profile: Larger two-bedroom layouts attract quality tenants and support long-term occupancy
Strategic Location: Situated in the Edgewater/Andersonville corridor, an area known for strong demand, walkability, and cultural vibrancy
Portfolio Enhancement: Acquisition fit seamlessly into the buyer’s strategy to scale their holdings with well-located, income-producing assets
Market Strategy and Positioning
Triton Realty Group recognized the unique timing and needs of both seller and buyer in the aftermath of the Great Recession, when liquidity was limited and investor confidence cautious. The seller, motivated by retirement and a desire to unlock accumulated equity, needed a discerning, qualified buyer willing to act decisively. Through targeted outreach and leveraging hyperlocal relationships, the brokerage identified a local investor with a clear vision for portfolio growth. By highlighting the property’s rare stability, value-add potential, and neighborhood advantages, the team created a competitive atmosphere that ensured a swift, successful close. This tailored approach not only maximized proceeds for the seller but also positioned the buyer to capitalize on the next cycle of neighborhood appreciation.
Frequently Asked Questions (FAQs)
This sale offers key insights for owners and investors considering similar multifamily opportunities in Chicago.
What made this property a compelling investment despite market headwinds?The building’s corner location, all-large two-bedroom units, and 100% occupancy created a safe harbor for capital with clear upside potential.
How did the broker overcome challenges in a post-recession market?By leveraging established local relationships and persistent outreach, the broker connected motivated parties and navigated a cautious lending environment.
What unique characteristics set this asset apart from comparable buildings?Its size, vintage character, and center-entrance design, combined with a prominent corner lot, offered both curb appeal and operational flexibility.
Why is Edgewater/Andersonville attractive for multifamily investment?The area’s walkability, diverse amenities, and consistent rental demand make it a magnet for both tenants and investors seeking long-term value.
What was the seller’s primary motivation?The seller was seeking retirement and opted to capitalize on accumulated equity, trusting expert guidance to achieve optimal pricing and terms.
Want to achieve results like this?
Contact Triton Realty Group, President & Founder Matthew Fritzshall to discuss your property goals in Chicago’s thriving multifamily market.
