Lakewood

3433-3443 N Lakewood Ave, Chicago, IL 60657
Strategy: Levered Core
Status: Current
Purchase Price: $4,400,000
Acquisition Date: 11/20/2020
Units: 16
Off-Market, Repeat Broker, Repeat Seller

Lakewood is a vintage core multifamily property that was fully renovated in 2009 located in Chicago’s Lakeview Neighborhood.

Lakewood is an exceptional long-term hold opportunity since it’s in a sought-after location where properties rarely trade at valuations that make financial sense, and its rents were negatively impacted by the COVID-19 pandemic at the time of purchase. We acquired it off-market with no other bidders at a discounted price during the COVID-19 pandemic.

After closing on the sale, the broker boasted in an announcement the property had closed without a financing contingency, during the pandemic, and at the original contract price.