CHICAGO, IL - Greenstone Partners announced the $4.36 million sale of 2417 West Erie, a newly constructed, nine-unit multifamily property in Chicago’s Smith Park neighborhood. Senior Director Jordan Multack of Greenstone Partners represented the seller, a Chicago-based developer, and Director Jacob Goldstein along with Investment Analyst Alexander Tychalski of Greenstone Partners procured the purchaser, a private and local 1031 exchange buyer.
“This transaction reflects the continued demand we’re seeing for high-quality, newly built multifamily assets in Chicago’s evolving neighborhoods,” said Multack. “2417 West Erie offers large, efficient layouts, and long-term stability, all in a community that continues to experience meaningful investment. We were proud to bring this asset to market and deliver a competitive process that resulted in a great outcome for both parties.”
2417 West Erie offers spacious, unique floor plans, large 3 Bed / 2.5 Bath apartments, plentiful on-site parking, and elevator access. The property has been meticulously maintained since delivery and provides residents with convenient access to transit, retail corridors, and a rapidly developing residential community.
The buyer was attracted to the asset’s strong in-place operations, additional value-add opportunities, and appreciation potential given the long-term growth trajectory of the Smith Park neighborhood.
“This acquisition reflects the strong appetite we continue to see from private investors seeking well-located, high-quality multifamily assets,” said Goldstein. “Opportunities like 2417 West Erie, with its stable operations and long-term upside remain highly competitive in today’s market.”
Greenstone Partners specializes in middle-market commercial real estate transactions throughout Chicagoland. The firm’s advisors consistently secure the most qualified offers and favorable terms for clients by leveraging a proprietary marketing process, comprehensive analysis, and deep market expertise.
About Greenstone Partners: 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. For more information, please visit www.Greenstone-Partners.com