This vintage 7-unit multifamily property, located in the heart of Chicago’s Bowmanville neighborhood, traded hands after decades of long-term ownership. The building blends historic character with significant value-add potential, highlighted by an abundance of unused square footage that offers new ownership the ability to reconfigure layouts and implement future enhancements.
The desirable North Side location underscores the opportunity for long-term appreciation, making the transaction particularly attractive in today’s supply-constrained multifamily market.
Christian Arai of CRER represented the buyer in the transaction, ensuring a smooth acquisition process. The deal adds to Arai’s growing list of North Side multifamily sales, including a similar transaction in West Rogers Park where a 12-unit, center-entrance building sold off-market after decades of family ownership. Both properties shared characteristics of underutilized layouts and strong value-add potential, reflecting the type of opportunities investors are actively seeking.
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These transactions highlight the speed and exclusivity of many multifamily opportunities across Chicago’s North Side. To get early access to similar listings, sign up for our mailing list.
Market Snapshot:
Chicago’s Far North multifamily submarket continues to demonstrate strong fundamentals, attracting both private and institutional investors. Limited supply growth, coupled with rising demand, has supported rent growth and kept vacancy rates at historic lows.
Considering Selling Your Property?
With a proven track record and deep expertise in the Chicago multifamily market, Christian Arai and the CRER team are well-positioned to help you achieve a successful outcome.
Contact us today to discuss how we can help unlock the full potential of your asset.
