Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications

Triton facilitates multifamily transactions in Andersonville, Belmont Cragin

June 26, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Triton Realty Group recently sold two apartment buildings in Chicago, one in the Andersonville neighborhood and the other in Belmont Cragin. The combined sale price on the two transactions was over $2.6 million.

In the Belmont Cragin neighborhood, Triton sold a 10-unit apartment building for $871,500, representing $87,150 per unit. Matthew A. Fritzshall, president and managing broker of Triton represented the seller and Harrison A. Cohen, vice president at Triton represented the buyer.

The property, built in 1927, operates at a 9.39 percent capitalization rate and has a unit mix comprised of eight two-bedroom/one-bathroom units and two one-bedroom/one-bathroom garden units. The building features numerous recent capital improvements including replaced porches, furnaces, water heater, tuck pointing and lintels. A laundry facility and two garages are also on site.

Fritzshall and Cohen also facilitated the sale of a turnkey, rehabbed multifamily property in the Andersonville neighborhood. The building was converted to six two-bedroom/one-bathroom units with spacious layouts. The deal closed for $1,815,000 and sold at 11.50 gross rent multiplier. The building operates at a 6.40 percent capitalization rate and sold for $302,500 per unit—one of the highest price-per-unit sales within the last two years.

According to Fritzshall and Cohen this sale represents what is happening in Andersonville and the surrounding neighborhoods. Investors are attracted to the area for its proximity to transportation, the lakefront and the appeal for renters.

Tags
andersonvilleBelmont-CraginChicagoIllinoismultifamilytriton realty group
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisIndustrial

Brown Commercial Group negotiates 19,364 square feet of industrial transactions in Chicago suburbs

May 18, 2022
TexasIndustrial

CBRE pre-leases 169,011-square-foot speculative industrial development in East El Paso

May 18, 2022
IllinoisCRE

CAHST bolsters leadership team with appointment of new chief financial officer

May 18, 2022
TexasWisconsinHealthcare

Dallas-based investor purchases Wisconsin MOB portfolio

May 18, 2022

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise/Editorial Calendar
© 2022 REjournals.com