Greenstone Partners announced the $1.28 million sale of 1226 North Cleaver, a value-add, seven-unit multifamily property in Chicago’s Wicker Park neighborhood.
Senior Director Jordan Multack of Greenstone Partners represented the seller, a Chicago-based owner, and procured the purchaser, a private and local repeat buyer.
“This transaction reflects the continued demand we’re seeing for value-add multifamily assets in Chicago’s prime neighborhoods,” said Multack. “1226 North Cleaver offers the buyer the opportunity to upgrade and customize the apartments to feature brand new luxury finishes in a fantastic location, two blocks from the Division CTA Blue Line Station.”
The buyer was attracted to the asset’s value-add opportunity in a neighborhood they already own and operate in. They saw an opportunity to update the building and achieve top-tier rents.
Greenstone Partners specializes in many types of middle-market commercial real estate transactions throughout Chicagoland. Greenstone’s team secures the most qualified offers and favorable terms for its clients, leveraging a proprietary marketing process, white-glove client service, and unparalleled market expertise.
Greenstone Partners has served private and institutional investors for over a decade. The firm provides top-tier advisory services, including investment sales, market analysis, and strategic consulting. Since 2013, Greenstone Partners has closed more than $3.5 billion in transaction volume.