Kiser Group’s Senior Director Danny Logarakis Closes Three Multifamily Sales Totaling $4.25M in Belmont Cragin and Brings Two New Listings to Market

The transactions include 5055 W. Wrightwood, 5647 W. Wellington, and 2735 N. Lockwood, each consisting of 12 residential units. The combined sale price across all three buildings totaled $4.25 million.

5055 W. Wrightwood and 5647 W. Wellington were sold as a portfolio for $2.7 million. The buyer, Mike Iancu, already owns two other buildings nearby and strategically acquired the properties following a cash-out refinance. Wrightwood is a fully occupied building featuring a mix of studios, one-, and two-bedroom apartments. Each unit has separate HVAC, and the building includes upgraded electrical service. Wellington, also fully occupied at closing, is a vintage, boiler-heated property comprised entirely of one-bedroom units.

2735 N. Lockwood was sold off-market for $1,550,000 to Eladla Enterprises LLC. The buyer was attracted to the Belmont Cragin location, an area she sees as up-and-coming. The building was 92% occupied at the time of sale and has been professionally managed. Seven of the twelve units were recently renovated with new kitchens and bathrooms. The building is also boiler-heated with coin laundry.

5055 W. Wrightwood and 5647 W. Wellington were listed for sale on September 27, 2024. Wrightwood closed on March 28, 2025, followed by Wellington on April 18, 2025. 2735 N. Lockwood was introduced off-market on February 5, 2025, and closed on April 25, 2025.

“These deals highlight the continued strength of the multifamily market in Belmont Cragin,” said Logarakis. “Buyers are actively pursuing opportunities here — whether it’s seasoned investors expanding their footprint or new owners entering the market for the first time.”

Building on this momentum, Logarakis recently brought two additional multifamily properties to market in Belmont Cragin, co-listed with Joe Bianchi and John George: 5201 W. Schubert, a 12-unit building, and 3054 N. Major, which features 11 units. Both listings offer investors a valuable opportunity to acquire well-located assets in a neighborhood experiencing sustained interest and investment.