Private Investor Acquires Lakeview Multifamily Property In Chicago For $2.54M

Located at 3311 North Seminary Avenue in Chicago's sought-after Lakeview neighborhood, this 8,400-square-foot turnkey multifamily investment consists of five fully leased units. The property was sold for $2,535,000, equating to $302 per square foot, with each unit priced at $507,000. The unit mix includes one 2 Bed/2 Bath simplex, two 4 Bed/2 Bath duplex, and two 3 Bed/2 Bath duplex apartments. Situated across from the Hawthorne Academy, the property offers immediate access to various transportation options, restaurants, bars, and retailers.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,535,000
• Units: 5
• Square Footage: 8,400
• Price per Unit: $507,000
• Price per Square Foot: $302
• Address: 3311 North Seminary Avenue
• Market: Chicago

Greenstone Partners’ Jordan Multack represented the seller, a Chicago-based private investment firm, and facilitated the transaction with the buyer, an undisclosed private local investor. The property garnered significant interest, with 18 property tours and multiple offers received before closing. The buyer was particularly drawn to the property due to its exceptional location and the array of attractions in its vicinity.