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3332 West Palmer Street
SOLD

Drew Breneman Sells 8-Unit Multifamily Property In Logan Square For $3.575M

3332 West Palmer Street

MultiFamily
12,800 SF
clock iconSold 210 days ago
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Summary

Sale
ILLINOIS
MultiFamily
12,800 sqft

Greenstone Partners successfully sold 3332-34 West Palmer, a 12,800-square-foot turnkey multifamily investment in Chicago's Logan Square neighborhood. The fully leased eight-unit property closed at $3,575,000, or approximately $445,000 per unit. Situated just three blocks west of Palmer Square Park, the property boasts proximity to various restaurants, bars, and retailers. Less than a mile from the CTA Logan Square Blue Line "L" station and serviced by various CTA Bus lines, its location is highly accessible. Nestled northwest of the corner of Armitage Avenue, an area renowned for Michelin-star restaurants, bars, and breweries, the property thrives in a bustling locale with strong demographics firmly rooted in the heart of this expanding neighborhood.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $3,575,000
  • Units: 8
  • Price per Unit: $445,000
  • Square Footage: 12,800
  • Price per Square Foot: $279
  • Address: 3332 West Palmer Street
  • Market: Chicago

Greenstone Partners’ Jordan Multack represented the seller, Drew Breneman, a Chicago-based private investment firm, in the transaction.

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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: 12/14/2023 ADDRESS: 3332 West Palmer Street MARKET: Chicago ASSET TYPE: Multifamily SELLER: Drew Breneman BROKERS: Jordan Multack (@Tackness) - Greenstone Partners (@GreenstonePartners) SALE PRICE: $3,575,000 UNITS: 8 ~ PPU: $446,875 SF: 12,800 ~ PPSF: $279 NOTE FROM BROKER: Greenstone Partners successfully sold 3332-34 West Palmer, a 12,800-square-foot turnkey multifamily investment in Chicago's Logan Square neighborhood. The fully leased eight-unit property closed at $3,575,000, or approximately $445,000 per unit – marking the highest price per-unit sale in Logan Square this year, according to CoStar. Situated just three blocks west of Palmer Square Park, the property boasts proximity to various restaurants, bars, and retailers. Less than a mile from the CTA Logan Square Blue Line "L" station and serviced by various CTA Bus lines, its location is highly accessible. Nestled northwest of the corner of Armitage Avenue, an area renowned for Michelin-star restaurants, bars, and breweries, the property thrives in a bustling locale with strong demographics firmly rooted in the heart of this expanding neighborhood. Greenstone Partners’ Jordan Multack represented the seller, Drew Breneman, a Chicago-based private investment firm, in the transaction.

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Address3332 West Palmer Street

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