Greenstone Partners completed the sale of 1432 N. Hoyne Ave., a 16-unit multifamily property in Chicago’s Wicker Park neighborhood. The asset traded for $3.6 million, equating to $225,000 per unit.
The property presents a significant value-add opportunity, with the buyer planning a full renovation of the building. Planned upgrades include new kitchens, bathrooms, HVAC systems, and in-unit laundry, allowing the future units to be repositioned at market rents.
Situated on 7,500 square feet of land, the building offers investors a rare chance to redevelop a multifamily asset in one of Chicago’s most sought-after and supply-constrained neighborhoods.
Greenstone Partners’ Jordan Multack exclusively represented the buyer, a Chicago-based private investor group, in the purchase of the asset.