CRER Senior Director Steven Rapoport has completed the sale of a fully leased, income-producing six-unit apartment building in the heart of Wicker Park, representing the buyer in a competitive transaction. The buyer, a local investor, has added another high-performing asset to their growing Chicago portfolio.
This deal continues the momentum in the Wicker Park and Bucktown multifamily market, where CRER has consistently delivered results for both buyers and sellers of apartment buildings.
Recent CRER Transactions in Wicker Park and Bucktown:
- 23-unit mixed-use property at 1422 N Milwaukee Ave
- Two development sites in Wicker Park that were listed and sold by CRER, and are expected to deliver 40 new apartments to the Wicker Park neighborhood.
- Six-unit apartment building at 1860 N Hoyne Ave, sold for $1,550,000
Market Insights:
The submarket surrounding 1244 N Cleaver remains one of Chicago’s strongest for multifamily investment. According to the latest CoStar data:
- Vacancy rate is just 4.1 percent
- Annual rent growth is 4.0 percent, with Class A assets showing 4.6 percent gains
- Only 530 new units are currently under construction
- Annual sales volume has reached $909 million, highlighting continued investor demand
Why Wicker Park?
Investors are drawn to Wicker Park’s strong rental fundamentals, high walkability, and access to transit, shopping, and entertainment. Both private and institutional capital are active in the market, and well-positioned assets continue to command strong pricing.
Thinking About Selling Your Apartment Building?
If you own a multifamily or mixed-use property in Chicago and are considering selling, connect with Steven Rapoport at CRER. With a proven track record, deep market knowledge, and active buyers seeking investment opportunities, we are ready to help you maximize your property’s value.
Let’s discuss your options and create a tailored marketing strategy for your asset.
