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3311 North Seminary Avenue
SOLD

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

3311 North Seminary Avenue

MultiFamily
8,400 SF
clock iconSold 135 days ago
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Summary

Sale
ILLINOIS
MultiFamily
8,400 sqft

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 PartnersJordan 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.

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Jordan Multack's profile picture
Jordan Multack
Greenstone Partners-image
Director
$78.2M Sold

Details

Deal Summary
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SOLD
IMAGE: Jordan Multack & Drew Breneman DATE: 02/29/2024 ADDRESS: 3311 North Seminary Avenue MARKET: Chicago ASSET TYPE: Multifamily SELLER: Drew Breneman (@DrewBreneman) BROKER: Jordan Multack (@Tackness) - Greenstone Partners (@GreenstonePartners) SALE PRICE: $2,535,000 UNITS: 5 ~ PPU: $507,000 SF: 8,400 ~ PPSF: $302 NOTE FROM BROKER: Greenstone Partners successfully sold 3311 North Seminary, an 8,400-square-foot turnkey multifamily investment in Chicago's sought-after Lakeview neighborhood. The fully leased five-unit property closed at $2,535,000, or $507,000 per unit. It garnered 18 property tours and yielded multiple offers. Situated directly across from the sought-after Hawthorne Academy, the property boasts immediate proximity to various transportation, restaurants, bars, and retailers. Its prime location makes it accessible to multiple modes of transportation, including the Belmont CTA Red, Purple, and Brown Line and various bus lines. The property possesses a dense unit mix of one 2 Bed/2 Bath simplex, two 4 Bed/2 Bath duplex, and two 3 Bed/2 Bath duplex apartments. The purchaser was drawn to the property for its fantastic location and proximity to various attractions. Greenstone Partners’ Jordan Multack exclusively represented the seller, a Chicago-based private investment firm, and procured the buyer, a private local investor.

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Address3311 North Seminary Avenue

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