Greenstone Partners is pleased to announce the successful sale of 633 S. Laflin Street, a 16-unit value-add multifamily property located in Chicago’s sought-after Little Italy / University Village neighborhood. The asset sold for $195,000 per unit following a competitive marketing process that produced multiple written offers.
The property was placed under contract within one week of launch. During that time, the offering generated strong investor engagement, resulting in 25 executed confidentiality agreements, nine property tours, and three competitive offers. The outcome underscores continued buyer demand for well-located, cash-flowing multifamily investments on Chicago’s Near West Side.
The three-story building totals approximately 10,800 square feet and features a desirable mix of one- and two-bedroom apartments. The property includes surface parking and strong in-place fundamentals, with additional upside through interior renovations and future rental growth.
Situated near the University of Illinois Chicago campus, the Illinois Medical District, major transportation routes, and downtown Chicago, the location was a primary driver of buyer interest.
Greenstone Partners’ Tom Galvin and Brewster Hague exclusively represented the seller, a private local owner, and procured the purchaser, a private partnership based in Illinois.