November 30, 2023 – Brian Gerth and John Preston of Horvath & Tremblay have successfully completed the sale of a five-unit multi-family building in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $790,000.
The multi-family building is located at 5363 N Central Avenue in the Jefferson Park neighborhood of Chicago, Illinois. The three-story brick building contains five (5) 2-Bedroom/1-Bathroom residential units with 4,000 square feet of living area in 4,500 gross square feet on a 0.1-acre corner parcel. The building has been well maintained by the current owner and offers three (3) off-street garage parking spaces. The existing rents are below market and prove the opportunity, through programmatic upgrades to the unit interiors, to significantly increase the rental rates of the residential units. Located in the Chicago neighborhood of Jefferson Park, this Property is well positioned at the intersection of N Central Avenue and W Balmoral Avenue and is seconds from N Milwaukee Avenue, the area’s primary commercial corridor. Transportation options near the property include Bus lines 85, 85A, 225, 226 & 270, located along N Central Avenue and N Milwaukee Avenue. The Property offers access to subway service on the CTA Blue line at the Jefferson Park “L” Station (0.6-miles), and commuter rail service via the Gladstone Park & Jefferson Park Metra Stations (0.6-miles) and the Forest Glen Metra Station (0.8-miles). The location also offers exceptional access to area highways including Interstates 94 and 90 and US Highways 14 and 41. The Property also offers convenient access to green space, numerous retail amenities, and North Park University and Northeastern Illinois University, both less than 2.5-miles away.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.