Dwelle Acquires MultiFamily Property On Lakewood Ave In Chicago For $4.4M

The property located at 3433-3443 N. Lakewood Avenue in Chicago, IL, consists of 16 two-bed/one-bath apartment units. Each unit features high-end finishes and appliances, wood floors, and in-unit washer and dryer. The property also offers shared deck spaces and individual storage spaces in the basement. Its location provides residents easy access to the Southport Corridor and Brown Line.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,400,000.00
• Buyer: Dwelle
• Seller: Unknown
• Buyer's Rep: Kyle Stengle (Marcus & Millichap)
• Financing: Dwelle used a Freddie Mac SBL, with Steve Kundert and Jim Vozza at CBRE facilitating the transaction.

Kyle Stengle of Marcus & Millichap represented both the buyer, Dwelle, and the seller. The property was acquired through Dwelle, a joint venture between Drew Breneman’s firm RiseInvest and Sam Meyer. Dwelle was able to close the off-market deal without a financing contingency. The seller chose Dwelle for the 1031 exchange due to their track record and performance during challenging times.