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Triton Handles Trade of “Trophy” Courtyard Apartments
Triton Realty Group recently sold 5534-48 N. Winthrop, a 25-unit courtyard apartment building in Edgewater. The property traded to an undisclosed buyer for $5,150,000, or $206,000 per unit.
Matthew A. Fritzshall, president and managing broker of Triton, acted as the sole broker in this transaction. “This is a trophy property,” he said. “If you look up the definition of curb appeal, I think 5534-48 N. Winthrop could be a photo explaining the meaning of that word.”
Built in 1916, the property contains six two-bedroom/one-bathroom units, and 19 one-bedroom/one-bathroom units. A surface parking lot with 13 spaces is located directly behind the property.
The asset sits in a prime location, steps from the Bryn Mawr CTA red-line stop, Fritzshall said. It also has easy access for tenants to Lake Shore Drive.
According to Fritzshall, “this transaction is special because the property is arguably one of the most unique vintage courtyard buildings on the North Side.”
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- ◦Sale/Acquisition
