Triton sells vintage Lakeview apartment building

Dec 19, 2018 | In The News | 0 comments

Triton Realty Group recently sold a six-unit apartment building located at 1228 W. Diversey Parkway in Chicago, according to Matthew A. Fritzshall, president and managing broker of the firm. The asset sold for $2,400,000 which represents a $400,000 price per unit sale at a 6.25 percent capitalization rate, one of the highest per unit sales comparables in the last two years.

The seller exclusively engaged Triton to sell the property following a complete gut renovation. No stone was left unturned in terms of the rehab undertaken on this beautiful turnkey asset in the Lakeview neighborhood of Chicago.

β€œThe Diversey deal shows that activity levels remain high for investors searching for stabilized multifamily assets with dependable cash flow,” said Fritzshall. β€œWe had a significant amount of interest in this opportunity, including numerous showings that generated multiple offers for our client.”

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