Triton Realty Group recently sold two apartment buildings in Chicago’s Andersonville and Logan Square neighborhoods. Matthew A. Fritzshall, president and managing broker of Triton, acted as the sole broker on both deals for a combined amount of $1,860,000.
The first transaction a sevem-unit L-shaped property in Andersonville sold for $1,125,000. The multifamily asset is within walking distance to both the Bryn Mawr Red Line stop and Clark Street’s fabled “restaurant strip.” The unit mix includes four two-bedroom/one-bathroom units and three one-bedroom/one-bathroom units. According to Fritzshall, “this transaction allows the buyer an opportunity to reposition the asset and add value through a full renovation of the units.” Furthermore, “the out-of-state seller was able to cash a nice check,” said Fritzshall.
Fritzshall also facilitated the sale of a center entrance, vintage multifamily building in the Logan Square neighborhood for $735,000. The property, built in 1918, contains six apartment units. The unit mix is comprised of two three-bedroom/two-bathroom units and four one-bedroom/one-bathroom units. This property will allow the buyer to add value over time by performing capital improvements such as cosmetic updates to the kitchens and bathrooms.
“For over 10 years, I have been focused on brokering multifamily properties on the North Side of Chicago,” said Fritzshall. “It is great to see that there is still strong demand for these types of assets.”
