Base 3 Development Acquires Multifamily Property On 618 West Wrightwood Avenue In Chicago For $856,678

The multifamily property located at 618 West Wrightwood Avenue in Chicago has been sold in a recent transaction. The property, spanning 4,058 square feet, consists of 7 units. The sale price for this transaction was $856,678, resulting in a per unit price of $122,383. The price per square foot stands at $211.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $856,678
• Address: 618 West Wrightwood Avenue, Chicago
• Market: Chicago
• Units: 7
• Price per Unit: $122,383
• Square Footage: 4,058
• Price per Square Foot: $211

In this transaction, the buyer was Base 3 Development, while the seller was Daniel R Scheinfeld. Alexander Morsch, representing Peak Realty Chicago, acted as the buyer's representative. The property was listed as a single-family home for $899,000 on the Top Agent Network. Despite the absence of parking and being landlocked in the rear, the buyer's representative recognized the potential for conversion to 7-8 units due to the RM-5 zoning and proximity to public transit. Through the administrative adjustment process, 7 units were approved.

The property's sale price of $856,678 represents the lowest per unit entry price in Lincoln Park throughout the year, at $122,383 per unit. The buyer's representative takes pride in securing unique deals and collaborating with clients committed to rehabilitating and restoring historic buildings in Chicago.