Avalon Park 18-Unit Courtyard Sale: A Showcase of Value-Add Opportunity and Neighborhood Growth
Avalon Park/Calumet Heights 18-Unit Courtyard Sale: A Showcase of Value-Add Opportunity and Neighborhood Growth
Sale at a Glance
In a transaction that awakens the promise of Chicago’s Avalon Park and Calumet Heights, Triton Realty Group’s Alex Summers and Luke Wojcik successfully brokered the sale of 2153 E. 87th St/8700 S. Paxton Ave. for $1,800,000 on June 30, 2026. This fully stabilized, 18-unit courtyard building stands as a testament to strategic repositioning and capital improvement in one of the city’s most desirable emerging neighborhoods. The deal highlights not only strong in-place income, but also the untapped potential for future rent growth and value creation.
Sale Details
This sale demonstrates how expert guidance and vision can unlock latent value and set a new benchmark for the area.
Brokers: Alex Summers & Luke Wojcik, Triton Realty Group LLC
Sale Price: $1,800,000
Close Date: June 30, 2026
Total Units: 18 (6 two-bedroom, 1 bath; 12 one-bedroom, 1 bath)
Neighborhood: Avalon Park / Calumet Heights, Chicago
Buyer Profile: Existing client, focused on stabilized multifamily assets
Property Highlights
The property embodies a rare blend of classic Chicago charm and modern upgrades, positioned within reach of the city’s best amenities.
Courtyard Building: Timeless architectural appeal with abundant natural light and community feel
Recent Capital Improvements: New tear-off shingle roof (2020), insulated roof cavity, new gutters and downspouts, insulated hot water pipes, and high-efficiency radiant heat boilers (2021)
Enhanced Security & Comfort: Security cameras (2020), new electrical fixtures, and common area upgrades including carpet and refinished stairwells
Parking & Amenities: 13 parking spaces and coin laundry, generating additional income streams
Proximity: Easy access to the 90 Expressway, parks, retail, and a short drive to Lake Michigan
Key Investment Features
This asset stands as a beacon for investors seeking both security and upside in a dynamic Chicago corridor.
Stabilized Income: Fully leased with strong in-place rents
Rental Upside: Opportunity to increase revenue by raising rents to market levels
Value-Add Potential: Modernized mechanical systems reduce maintenance costs and appeal to quality tenants
Diverse Unit Mix: Flexible configuration attracts a broad tenant base
Additional Revenue: Onsite laundry and parking enhance NOI and overall returns
Market Strategy and Positioning
Triton Realty Group harnessed deep neighborhood knowledge and a future-focused marketing approach to highlight the property’s transformation and untapped value. By emphasizing recent renovations, stabilized occupancy, and the building’s position within a desirable growth corridor, the team attracted sophisticated investors seeking a blend of security and upside. Their strategic storytelling awakened interest in both the property’s current performance and its potential to shape the neighborhood’s next chapter, resulting in a competitive sale process and a market-setting outcome.
Frequently Asked Questions (FAQs)
This transaction highlights distinct advantages for investors in Chicago’s Avalon Park/Calumet Heights area.
Q: What makes this property stand out compared to other multifamily assets in the neighborhood?
A: The combination of full stabilization, high-end mechanical upgrades, and a classic courtyard design sets this building apart, offering both immediate cash flow and future rent growth.
Q: Were there any recent renovations that increased the building’s value?
A: Yes, substantial capital improvements—including a new roof, modern boilers, updated security, and upgraded common areas—reduced long-term operating costs and elevated resident experience.
Q: What is the appeal of the unit mix to investors?
A: The mix of one- and two-bedroom units attracts a diverse tenant base, supporting strong occupancy and rental flexibility.
Q: How does the location benefit residents and owners alike?
A: With quick access to expressways, local parks, retail, and Lake Michigan, the property offers both convenience and lifestyle appeal, enhancing tenant retention and long-term value.
Q: What additional income streams does the property offer?
A: Onsite parking and coin-operated laundry generate extra revenue, boosting the asset’s net operating income.
Want to achieve results like this?
Contact Alex Summers at 773-733-1153or Luke Wojcik at 773-610-9054 discuss your property goals in Chicago and unlock the full potential of your real estate portfolio.
