facebook
Traded Co logo
Submit
Daily limit: 0/10

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

Property Image
SOLD
$17,300,000
Colin O’Malley
DM

Illinois

See Similar Deals
MultiFamily
Sold 01/07/2026
the dealplayerscompscontact
Property Image
SOLD

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

506 West Deming Place

See Similar Deals
MultiFamily
Sold 01/07/2026
Colin O’Malley
DM
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Colin O’Malley
Interra Realty
Colin O’Malley
8 deals$73.7M volume(312) 361-3138
BROKER
Interra Realty
Interra Realty
BROKERAGE
DM
Danny Michael
3 deals$73.3M volume
BUYER
HG
Horizon Realty Group
BUYER

Details

SOLD
IMAGE: Colin O’Malley & Danny Michael DATE: 01/07/2026 ADDRESS: 506 West Deming Place MARKET: Chicago ASSET TYPE: Multifamily BUYER: Danny Michael - Horizon Realty Group (@HorizonChicago) BROKER: Colin O’Malley - Interra Realty (@InterraRealty) SALE PRICE: $17,300,000 UNITS: 49 ~ PPU: $353,061 NOTE: The estate of Chicago investor John A. Brown sold the 49-unit apartment building at 506 W. Deming Place in Lincoln Park for $17.3 million ($353,000 per unit) to Horizon Realty Group, with Interra Realty’s Colin O’Malley representing both sides.The late-December sale underscores strong demand for mid-market multifamily assets in Chicago, where limited new supply and easier financing have favored vintage apartment buildings.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$922,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,463.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,010.83
Annual Debt Service$984,129.91