Horizon Realty Group Acquires 49-Unit Multifamily Building In Lincoln Park For $17.3M

The 49-unit apartment building located at 506 West Deming Place in Lincoln Park, Chicago, was sold by the estate of Chicago investor John A. Brown for $17.3 million, resulting in a price per unit of $353,061. This multifamily asset reflects the current market conditions favoring vintage apartment buildings due to limited supply and favorable financing options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,300,000
• Units: 49
• Price Per Unit: $353,061
• Buyer: Danny Michael - Horizon Realty Group
• Broker: Colin O’Malley - Interra Realty
• Date of Transaction: 01/07/2026
• Market: Chicago

Colin O’Malley from Interra Realty represented both the seller and the buyer in this transaction. The successful sale underscores a strong demand for mid-market multifamily assets in the region.