Kenny And Michael Motew Buy 16-Unit Multifamily In Wicker Park Chicago From Greg Stammich

The asset is a 16-unit value-add multifamily property located at 1432 North Hoyne Avenue in Chicago, within the Wicker Park area. It comprises 16,000 square feet on a 7,500-square-foot site and sold for $3,600,000, or $225,000 per unit and $225 per square foot, reflecting a value-add opportunity in Chicago’s market.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $3,600,000
• Address: 1432 North Hoyne Avenue
• Market: Chicago
• Asset Type: Multifamily
• Units: 16
• Price Per Unit: $225,000
• Price Per SF: $225
• Building Size (SF): 16,000
• Site Size (SF): 7,500
• Buyer: Kenny & Michael Motew
• Seller: Greg Stammich
• Broker: Jordan Multack - Greenstone Partners
• Note: Purchaser is a Chicago-based private investor group; Renovation plans include new kitchens, bathrooms, HVAC, and in-unit laundry; The purchaser was drawn to a value-add opportunity in Chicago’s Wicker Park neighborhood.

Senior Director Jordan Multack of Greenstone Partners represented the buyer, Kenny & Michael Motew, a Chicago-based private investor group, in the acquisition from seller Greg Stammich. The transaction was facilitated by Greenstone Partners, and the buyer intends a comprehensive interior renovation program across the asset, including installing new kitchens, bathrooms, HVAC systems, and in-unit laundry.