Triton Realty Group LLC’s Senior Vice President Harrison Cohen recently closed an amazing deal in Chicago's booming South Shore neighborhood. 7200-02 S. Stony Island Ave. is a 24-unit multi-family building featuring an excellent unit mix of (12) 2 bed/1 bath and (12) 1 bed/1 bath apartments.
Harrison facilitated this transaction by sourcing a New York🗽buyer for his California🌴seller client. The property's strong performance, with individual utilities and condo-quality features make it a standout in the market. Sold at a 7.59% cap rate📈for $84,375/unit, this sale showcases the potential for value enhancement in an evolving neighborhood.
This was a true team effort (like most transactions). The parties benefited from top notch legal services via Chris Titcomb of Titcomb Law Group, P.C. and good financing despite difficult capital market sourced by Nick Johnson of Ravenswood Capital Partners. Congratulations to all involved on this transaction!