Triton Realty Group recently sold a 25-unit apartment building located at 4911-19 N. Whipple Street in Chicago. The asset sold for $3,250,000, which represents a $130,000-price-per-unit sale.
Built in 1927, the courtyard-style apartment building features one-, two- and three-bedroom layouts. The property sits along the edge of the Chicago River and is located in the Albany Park neighborhood. Matthew A. Fritzshall, president and managing broker of Triton, acted as the sole broker in this transaction.
“An opportunity like this is hard to find,” said Fritzshall. “This transaction allows the buyer an opportunity to expand in their target submarket and add value through future renovation. Furthermore, the owner was able to divest a long-term investment.”