Wildwood Investments And Contemporary Concepts Acquire 95-Unit Apartment Building In Chicago For Closed Transaction
3431 North Ashland Avenue & 49 North Ashland Avenue
Building Size
—
Asset Type
MultiFamily
Closing
Oct 31, 2025
AI
The property asset involved in the transaction is a 95-unit apartment building located at 3431-49 North Ashland Avenue in Chicago's Lakeview neighborhood. This multifamily asset was completed in 2024 and was 98% occupied at the time of sale. It features modern amenities including a rooftop deck, coworking space, and a pickleball court.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 3431-49 North Ashland Avenue
- Market: Chicago
- Units: 95
- Buyer: Matt Katsaros - Wildwood Investments & Mike Breheny - Contemporary Concepts
- Seller: Highland Real Estate Partners
- Brokers: Joe Smazal & Mark Dykstra - Interra Realty
Joe Smazal and Mark Dykstra from Interra Realty represented both the buyer, a joint venture between Wildwood Investments and Contemporary Concepts, and the seller, Highland Real Estate Partners, in this transaction.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93