Danny Wirtz Of The Wirtz Family Sells 139-Unit Multifamily In Chicago For $22.5M

A multi-family property located at 535 West Cornelia Avenue and 534 West Stratford Place in Chicago was sold for $22.5 million. The complex consists of 139 units, translating to a price per unit of $161,871.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $22,500,000
• Buyer: Danny Wirtz - The Wirtz Family
• Seller: FMA Properties
• Brokers: Bill Montana & Christopher Sackley - Global Real Estate Advisors (GREA)
• Lender: Greystone
• Units: 139
• Price Per Unit: $161,871

The Wirtz family divested from a 139-unit apartment complex as part of their strategy to sell North Side properties ahead of their significant redevelopment project, known as the $7 billion "1901 Project," located near the United Center.