Bertsch Properties Buys MultiFamily In Chicago For $4.6M

The property at 4072 N Sheridan Rd, Chicago, IL, 60613, is a four-story, 16-unit multifamily building located in Chicago’s Buena Park neighborhood. Built in 1916 and last renovated in the mid-1990s, this asset was recently sold for $4.6 million, equating to $287,500 per unit. Each of the 16 units features two-bedroom floor plans with high-quality kitchen finishes, stainless steel appliances, granite countertops, and in-unit laundry facilities. Additionally, the building boasts a new roof deck offering stunning skyline views and comes with 14 parking spaces.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,600,000.00
• Market: Chicago
• Seller's Representative: Kyle Stengle(Marcus & Millichap)
• Buyer: Bertsch Properties
• Address: 4072 N Sheridan Rd, Chicago, IL, 60613

Kyle Stengle, the senior vice president of investments at Marcus & Millichap’s Chicago Downtown office, played a pivotal role in the sale of this property. He led the marketing efforts on behalf of the condo owners, organizing 21 tours and securing six offers. Stengle collaborated with the condo association for a year, guiding them through the deconversion process and highlighting the property's potential. His extensive experience in deconversions is evident from the successful transactions he has facilitated and continues to work on, such as the one at 2641 W. Estes Avenue in Chicago’s West Rogers Park neighborhood.