Greenstone Partners recently completed the sale of a multifamily property located at 1320 North Wicker Park Avenue in Chicago’s desirable Wicker Park neighborhood. The fully leased, seven-unit property spans 5,900 square feet and was sold for $1,825,000 at a rate of $260,000 per unit.
The prime location of this value-add asset was a major selling point for the investor. Situated just one block from Milwaukee Avenue and three blocks south of the Damen CTA Blue Line Station in core Wicker Park, it offers convenient access to transportation and amenities.
Jordan Multack from Greenstone Partners facilitated the transaction between buyer and seller. The purchaser is based in Chicago and utilized 1031 exchange proceeds to close on this investment opportunity.
Overall,this successful sale highlights both Greenstone Partner’s expertise in commercial real estate as well as the strong demand for properties with value-add potential in highly sought-after locations like Wicker Park.
