Triton Realty Group listed a 99-unit, 16-building multifamily portfolio spanning six Northwest Chicago neighborhoods. The offering includes long-held legacy assets with significant value-add potential across stabilized locations. The portfolio provides scale, geographic concentration, and strong rent-growth upside for investors targeting Chicago’s multifamily market.
-- Triton Realty Group announced the listing of a 99-unit, 16-building multifamily portfolio spanning six Northwest Chicago neighborhoods. President and Managing Principal Matthew Fritzshall, Senior Vice President and Principal Harrison Cohen, and Senior Advisor Luke Wojcik represent the offering on behalf of the seller.
The Gary R. Carlson Northwest Chicago Portfolio traces back more than four decades, beginning with the first acquisition by longtime Northwest Side owner Gary R. Carlson in 1982. Over the years, Carlson assembled a 99-unit collection of walk-up and mixed-use buildings clustered in Albany Park, Irving Park, Portage Park, Belmont Cragin, Belmont Central, and Schorsch Village.
“This portfolio gives investors something that is very hard to find on the Northwest Side, which is scale in locations that have performed for decades,” said Matthew Fritzshall, President and Managing Principal at Triton Realty Group. “The buildings have been held in one family for many years, and they sit in neighborhoods that renters know and trust. Investors recognize the value of that combination.”
The properties share common traits that appeal to both current and future renters. They sit on established residential blocks and commercial corridors, close to neighborhood retail, schools, and parks, with straightforward access to the Kennedy Expressway, the CTA Brown and Blue Lines, Metra service, and multiple bus routes. That connectivity has supported stable occupancy, while the vintage character of the buildings and traditional floor plans continue to attract long-term tenants.
Several properties in the portfolio received exterior improvements in recent years, including updated roofs, masonry, and windows, while others still reflect long-term ownership with older interior finishes and building systems. Some units receive rent subsidies through the Chicago Housing Authority, which contributes to a stable income stream. The portfolio allows an investor to phase capital improvements across multiple buildings and pursue rent growth as units are upgraded.
“The Northwest Side has shown consistent resilience in Chicago’s multifamily market,” said Harrison Cohen, Senior Vice President and Principal at Triton Realty Group. “Renter demand has held up, supply is limited, and many owners operate with long-term time horizons. This portfolio lines up well with what value-add buyers are looking for, which is below-market rents in neighborhoods with proven staying power.”
Across the 16 buildings, the portfolio features a balanced unit mix that includes studios, one-bedroom and two-bedroom layouts, along with a smaller number of three-bedroom and four-bedroom apartments. That mix supports a wide range of renter profiles, from individuals and couples to small families. Six commercial spaces, primarily along corridors such as Montrose Avenue and Belmont Avenue, add a mixed-use investment component that can produce complementary income streams.
Location remains the core driver of the offering. Albany Park continues to attract renters who value neighborhood character and access to the Brown Line. Irving Park and Portage Park appeal to residents seeking larger units, parks, and a residential feel while staying connected to employment centers. Belmont Cragin and Belmont Central provide dense, amenity-rich streetscapes with active commercial corridors, and Schorsch Village offers classic Northwest Side housing in a setting that has held its appeal across market cycles.
Recent multifamily sales activity in these neighborhoods shows buyers paying premiums for renovated and stabilized buildings with modernized interiors and improved operating systems. Against that backdrop, Triton Realty Group is offering the Carlson portfolio as a collection of properties with below-market rents, long-term tenant histories, and a clear path to repositioning through interior upgrades and targeted building improvements.
Investors can acquire the portfolio as a 99-unit package that delivers immediate scale. Ownership will also consider offers on individual buildings, which allows private investors to target specific neighborhoods and larger buyers to assemble a customized subset of the portfolio within the broader Northwest Chicago footprint.
Property-level information for the assets in the Northwest Chicago Portfolio is available at www.tritonrealtygroup.com. For full portfolio materials, including the offering memorandum and due diligence files, investors can request access through the listing team or visit the Triton Deal Room.
About the company: Triton Realty Group is a privately held, Chicago-based brokerage and acquisitions firm specializing in multifamily and mixed-use properties. With over a decade of experience in the city and surrounding suburbs, the firm has completed more than 450 transactions totaling over 6,000 units and $650 million in value. Triton represents investors across a range of deal sizes and uses its extensive market relationships to identify and close opportunities both on and off the market.
Contact Info:
Name: Harrison Cohen, Senior Vice President & Principal
Email: Send Email
Organization: Triton Realty Group, LLC
Address: 5301 N Damen Ave, Chicago, IL 60625
Phone: (847) 624-6639
Website: https://www.tritonrealtygroupllc.com/
Release ID: 89177757
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