Greenstone Partners Facilitates $4.36M Sale Of Multifamily Asset In Chicago's Smith Park

2417 West Erie Street is a newly constructed nine-unit multifamily property located in Chicago's Smith Park neighborhood. The property was sold for $4,360,000 and encompasses a total of 14,000 square feet, equating to $311 per square foot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,360,000
• Address: 2417 West Erie Street
• Market: Chicago
• Square Footage: 14,000
• Price Per Square Foot: $311
• Buyer's Representative: Jacob Goldstein & Alexander Tychalski - Greenstone Partners
• Seller’s Representative: Jordan Multack - Greenstone Partners
• Buyer: Private local investor completing a 1031 exchange

Senior Director Jordan Multack represented the seller, a Chicago-based developer, while Director Jacob Goldstein and Investment Analyst Alexander Tychalski procured the buyer. The transaction underlines the continued demand for high-quality multifamily assets in evolving neighborhoods, emphasizing strong in-place operations and potential for value-add opportunities linked to the growth of the Smith Park community.