Penthouse and Patio Power: The Edgewater Apartment Sale That Set a New Standard at 5731 & 5733 N. Winthrop
Sale at a Glance
In August 2021, Triton Realty Group LLC masterfully closed the $2,242,500 sale of 5731 & 5733 N. Winthrop, two visionary multifamily buildings setting a new benchmark for luxury rental living in Edgewater, Chicago. This transaction drew the spotlight for its blend of architectural brilliance, rare turnkey condition, and magnetic neighborhood appeal—delivering a win for both buyer and seller in one of the city’s most urban-chic enclaves.
Sale Details
The dual-building sale captured the imagination of investors and residents alike, showcasing what happens when modern luxury meets location.
Final Sale Price: $2,242,500
Sale Date: August 19, 2021
Brokerage: Triton Realty Group LLC
Lead Brokers: Matthew Fritzshall (President & Founder), Harrison Cohen (SVP & Principal)
Residential Units: 8 across both buildings
Buyer Profile: Local repeat investor with a vision for value-add and future repositioning
Property Highlights
As much a statement for design as for investment, these properties offer a daily invitation to live brilliantly in Edgewater.
Striking Modern Architecture: Constructed in 2008, the buildings' facades and interiors exude a contemporary elegance rarely seen in the neighborhood
Signature Units: The 4-bed/2-bath duplex-up penthouse features over 2,000 sq ft of living space and a private roof deck with skyline views fit for a magazine cover
Jumbo Layouts: Three 3-bed/2-bath apartments per building each offer 1,500+ sq ft and their own massive 350 sq ft patios—a coveted commodity in city living
Light-Filled Living: Floor-to-ceiling windows, open-concept layouts, and oversized bedrooms are designed for comfort, style, and flexibility
Turnkey Efficiency: All units are separately metered and feature central HVAC, minimizing owner workload and expenses
Added Value: Six tandem parking spaces generate extra cash flow and tenant convenience
Key Investment Features
This sale didn’t just transfer ownership—it unlocked the door to a new era of opportunity for Edgewater investors.
Luxury Turnkey Asset: Impeccably maintained and ready for immediate lease-up with little to no downtime
Proximity Perks: Mere steps from the lakefront, vibrant retail, and the CTA Red Line, offering urban sanctuary and unmatched connectivity
Diverse Tenant Base: Perfectly positioned to attract local professionals and Loyola University students, ensuring robust occupancy
Upside Potential: Clear path for increased returns through cosmetic enhancements and market rent optimization
Neighborhood Magnetism: Edgewater’s thriving energy, unique character, and lakeside allure make these assets a long-term winner
Market Strategy and Positioning
Triton Realty Group’s approach was as tailored as the properties themselves—leveraging deep relationships and nuanced market understanding to secure a direct-to-seller listing from a Japanese investment fund. The team spotlighted the buildings’ instant wow-factor, robust tenant appeal, and value-add opportunity to engage the perfect repeat investor. This off-market deal was a testament to the power of trust, timing, and expert negotiation, capturing the essence of Edgewater’s evolution and the future of urban living.
Client Testimonial
“Triton Realty Group has been a tremendous partner with us over the last decade. We have closed many deals with them and they always do a great job. Whether helping us find a great off-market deal for a project or helping us sell a stabilized repositioned asset, their team is stacked with hard working, likeable, and intelligent brokers. When business associates become good friends you know you have a good thing going.....keep up the good work, Triton!” — Repeat Investor Client
Frequently Asked Questions (FAQs)
Edgewater’s new standard for style and substance—here’s what sets this deal apart:
Q: What design elements make these buildings a standout in Edgewater?
A: Purposeful modern architecture, signature penthouse roof decks, and oversized patios deliver a “wow” factor that rivals new luxury developments.
Q: How does the location supercharge investment value?
A: Walkability to the lake, CTA, and Loyola University ensures strong tenant demand and long-term appreciation.
Q: What was unique about the transaction process?
A: A direct relationship with a Japanese investment fund enabled an exclusive, off-market opportunity—showcasing Triton Realty Group’s deep local and global connections.
Q: How do the buildings’ features reduce owner headaches?
A: Separate metering, central HVAC, and turnkey condition mean minimal maintenance and optimized operational efficiency.
Q: What upside remains for the new owner?
A: Cosmetic upgrades and market rent adjustments present a clear path to increased cash flow and future resale gains.
Want to achieve results like this?
Contact Triton Realty Group — President & Founder Matthew Fritzshall and SVP & Principal Harrison Cohen — to discuss your investment property goals in Chicago. Visit tritonrealtygroup.com or call (312) 788-9379. Let’s reimagine what’s possible for your investment.
