9-Unit Multifamily Success in Skokie: 8018 Kilpatrick Avenue Sells
9-Unit Multifamily Success in Skokie: 8018 Kilpatrick Avenue Sells
Sale at a Glance
A classic 9-unit multifamily building at 8018 Kilpatrick Avenue in Skokie, IL changed hands in August 2018 for $900,000. Triton Realty Group’s Matthew Fritzshall brokered the deal, aligning the property’s investment potential with active buyer demand in this sought-after suburban market. This transaction demonstrates the continued appetite for stabilized apartment assets in a thriving North Shore rental corridor.
Sale Details
This successful sale highlights the enduring appeal of well-maintained multifamily properties in Skokie.
Broker: Matthew Fritzshall, Triton Realty Group
Closed Date: August 13, 2018
Sale Price: $900,000
Units: 9
Asset Class: Multifamily
Neighborhood: Skokie
Property Highlights
The building stands out as a solid, income-producing investment in a prime Skokie location.
Vintage Construction: Built in 1930, showcasing timeless brick architecture and structural integrity.
Unit Mix: Nine 1-bedroom apartments, ideal for the area’s strong renter pool.
Stable Occupancy: Non-owner occupied, providing immediate cash flow potential for investors.
Convenient Location: Close proximity to public transportation, schools, shopping, and major highways.
Low Days on Market: Property sold after just 6 days, reflecting strong market demand.
Key Investment Features
This transaction captured the attention of serious multifamily investors for several reasons.
Attractive Price Per Unit: With a final sale price of $900,000, the property delivered a competitive entry point for North Shore multifamily.
Turnkey Income: Immediate rental income with stabilized tenant base and minimal deferred maintenance.
Value-Add Potential: Opportunity exists for future upgrades or rent growth as Skokie continues to attract new residents.
Strong Submarket Fundamentals: Skokie’s reputation for quality schools and vibrant community life supports long-term rent stability.
Market Strategy and Positioning
The property was positioned to appeal to investors seeking both stability and upside in a location known for strong rent demand. By leveraging Triton Realty Group’s deep local relationships and proactive marketing platform, the sale was completed quickly, maximizing exposure to qualified buyers. The building’s classic architecture and prime location in Skokie’s rental market were emphasized, resulting in a streamlined sale process and compelling investment narrative.
Frequently Asked Questions (FAQs)
This Skokie multifamily sale stands as a testament to the enduring strength of the local apartment market. Here are some common questions about the property and transaction:
Q: What made 8018 Kilpatrick especially attractive to buyers? A: Its stable income, desirable unit mix, and prime Skokie location near amenities and transit made it a turnkey acquisition.
Q: How quickly did the property sell after listing? A: The building sold within 6 days on the market, demonstrating strong demand for multifamily assets in the area.
Q: Was there value-add potential for the new owner? A: Yes, future upgrades or incremental rent increases could further enhance cash flow, given the property’s solid bones and location.
Q: What are the benefits of investing in Skokie multifamily assets? A: Skokie offers a robust rental market, excellent schools, and steady appreciation, making it a preferred choice for long-term investors.
Q: Who brokered the transaction? A: Matthew Fritzshall of Triton Realty Group was the exclusive listing broker.
Want to achieve results like this?
Contact Matthew Fritzshall at 847-778-8746 to discuss your property goals in Chicago.
