Portage Park 9-Unit Multifamily Sale: Exceptional Value in a Thriving Chicago Neighborhood
Portage Park 9-Unit Multifamily Sale: Exceptional Value in a Thriving Chicago Neighborhood
Sale at a Glance
This soul-stirring transaction at 5504 W Berenice Ave stands as a testament to the enduring allure of Portage Park’s multifamily market. Guided by Matthew Fritzshall of Triton Realty Group, the nine-unit property achieved a sale price of $1,090,000 on September 7, 2018. The deal reflects both the neighborhood’s upward momentum and the power of a tailored brokerage approach, unlocking potential for the next generation of investors.
Sale Details
A nine-unit apartment building in the heart of Portage Park, crafted for investors seeking stability and future upside.
Broker: Matthew Fritzshall, Triton Realty Group
Sale Price: $1,090,000
Closing Date: September 7, 2018
Asset Type: Multifamily, 9 units
Neighborhood: Portage Park, Chicago
Property Highlights
This well-maintained multifamily asset offers classic Chicago charm and the promise of steady returns.
Solid Unit Mix: Nine apartments designed for rental demand in a vibrant community
Prime Location: Nestled in Portage Park, a neighborhood known for its parks, schools, and strong tenant base
Investment Stability: Consistently leased property with attractive rental upside
Transit Access: Convenient to public transportation and major thoroughfares
Key Investment Features
Investors were drawn to the building’s combination of reliability and growth potential.
Turnkey Opportunity: Immediate cash flow with potential for value-add improvements
Neighborhood Growth: Portage Park’s ongoing revitalization fuels strong rent growth and future appreciation
Desirable Asset Size: Nine units balance management efficiency with meaningful scale in the submarket
Market Strategy and Positioning
Triton Realty Group’s strategy for 5504 W Berenice Ave was rooted in an understanding of both investor psychology and neighborhood trends. By highlighting the property’s stability and upside potential, the marketing campaign attracted a competitive pool of buyers eager to plant roots in Portage Park. The broker’s deep local insight and future-focused approach ensured the property was positioned not just as a transaction, but as a gateway to long-term wealth creation.
Frequently Asked Questions (FAQs)
This sale at 5504 W Berenice Ave reflects the dynamic energy of Portage Park’s multifamily market and the value of expert representation.
Q: What makes Portage Park attractive for multifamily investors? A: Portage Park offers robust rental demand, a strong sense of community, and easy access to transit, making it a prime spot for long-term investment.
Q: How does a nine-unit property stand out in Chicago’s market? A: Nine-unit buildings offer scale and efficiency while remaining manageable for both new and seasoned investors.
Q: Were there opportunities for value-add at 5504 W Berenice Ave? A: Yes, the property provided immediate income with room for upgrades and future rent growth.
Q: Who brokered the sale and what was unique about their approach? A: Matthew Fritzshall of Triton Realty Group leveraged local expertise and targeted marketing to maximize the property’s appeal.
Q: When did the sale close and what was the final price? A: The property closed on September 7, 2018, for $1,090,000.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
