May 19, 2025 – John Preston of Horvath & Tremblay has successfully completed the sale of an eight unit multi-family property in Chicago, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,280,000.
The property is located at 5121 W Agatite Avenue in Chicago, Illinois. The three-story brick building contains eight (8) residential units comprised of five (5), 2-Bedroom/1-Bathroom units and three (3), 1-Bedroom/1-Bathroom units. The Property contains 7,300 square feet of area on a 0.2-acre parcel of land. The attractive building features an on-site laundry facility and offers parking with three garage bays and one surface parking space. Each unit is separately metered for electricity and gas-fired heat and hot water which the tenants pay directly. The Landlord is responsible for common electric, common gas, and domestic water and sewer. The Property was gut-rehabbed and converted from 6 to 8 units in 2018 The in-place rents are below market, offering the opportunity to significantly increase the revenue from the Property by raising rents to market rates without having to do much work to the property. The Property features an excellent location along Agatite Avenue in Chicago’s Portage Park neighborhood. The Property is just steps from N Milwaukee Avenue, a short walk from the Six Corners shopping district and the Portage Theater, offering an abundance of dining, shopping, and entertainment options. Transportation options near the property include Bus lines 56 and 78, which stop less than 1,000 feet from the property on Milwaukee Avenue, subway service on the CTA Blue line at the Montrose “L” Station, 0.7-miles from the Property, and commuter rail service via the Mayfair Metra Station 0.5-miles away. The location also offers easy access to area highways for those traveling by car via the nearby junction of Interstate 90 and 94.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.