Seamless $3.35M Multifamily Sale in Andersonville: 16 Units at 5644-5644 N. Glenwood & 1400-1406 W. Olive Ave
Seamless $3.35M Multifamily Sale in Andersonville: 16 Units at 5644-5644 N. Glenwood & 1400-1406 W. Olive Ave
Sale at a Glance
In the heart of Chicago’s vibrant Andersonville neighborhood, 16 multifamily units at the intersection of Glenwood and Olive changed hands in a standout deal. Brokered by Matthew Fritzshall of Triton Realty, the property sold for $3,350,000 on May 14, 2021. This transaction highlights the enduring appeal of North Side multifamily assets and demonstrates strategic positioning in a high-demand locale.
Sale Details
A unique multifamily investment opportunity in Andersonville, this sale drew attention from investors seeking stable income and neighborhood charm.
Sale Price: $3,350,000
Closing Date: May 14, 2021
Broker: Matthew Fritzshall, Triton Realty
Asset Type: Multifamily
Units Sold: 16
Property Highlights
Nestled in a sought-after residential pocket, these buildings offered a compelling blend of historic character and urban appeal.
Location: Prime Andersonville intersection, steps from restaurants, boutiques, and public transit
Unit Mix: 16 apartments designed for modern city living
Neighborhood: Situated in a thriving, walkable community with strong tenant demand
Key Investment Features
The property’s value was driven by its irreplaceable location and potential for steady returns.
Stability: Consistent rental demand in Andersonville’s robust multifamily market
Upside: Opportunity for value-add improvements to enhance NOI
Desirability: Walkable amenities and easy access to public transportation attracted quality tenants
Market Strategy and Positioning
Positioned to capture buyers seeking reliable, income-producing assets in Chicago’s North Side, the property was marketed with an emphasis on neighborhood vibrancy and long-term growth potential. Triton Realty leveraged its knowledge of local demand patterns to target qualified investors, ultimately securing a competitive price and smooth closing. The timing aligned with rising investor confidence in established urban neighborhoods, making this deal a showcase for strategic market alignment.
Frequently Asked Questions (FAQs)
This Andersonville multifamily sale stands out for its neighborhood appeal and investment fundamentals.
What made this property attractive to buyers?
The unbeatable Andersonville location, stable tenant base, and future value-add opportunities made it a prime target for investors.
Is the Andersonville rental market strong?
Yes, Andersonville consistently sees high occupancy and steady rent growth thanks to its walkability and community charm.
Were there any unique challenges in this sale?
The competitive buyer landscape required precise marketing and swift deal execution to maximize value.
What types of tenants are typically drawn to this property?
Young professionals and long-term residents seeking an authentic neighborhood experience are most attracted to these units.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Andersonville.
