In a $35.75 million transaction, Triton Realty Group closed the sale of Webster Square Apartments, 75 luxury residences above four street-level retail spaces in Chicago’s Lincoln Park. The deal underscores investor demand for mixed-use and adaptive reuse assets in core urban neighborhoods.
-- Triton Realty Group, a leading Chicago-based multifamily brokerage firm, announced the closing of the $35,750,000 sale of Webster Square Apartments, a premier mixed-use community located at 558 West Webster Avenue in Chicago’s Lincoln Park neighborhood. Triton Realty Group’s President & Founder, Matthew Fritzshall, and Senior Vice President and Principal, Harrison Cohen, successfully brokered the sale, represented the buyer Bill Silverstein, owner of BEAL Properties, a private real estate office, and the seller, Sandz Development.
Situated at the intersection of Webster, Lincoln, and Geneva Avenues, Webster Square occupies one of Lincoln Park’s most prominent corners, directly across from Oz Park. The property includes 75 luxury apartments positioned above four street-level retail spaces, creating a dynamic residential and commercial hub that continues to anchor the neighborhood’s growth.
According to Matthew Fritzshall, the closing of Webster Square reflects the strength of Chicago’s core multifamily and mixed-use investment market. “This transaction demonstrates the enduring value of quality real estate in highly walkable, lifestyle-driven neighborhoods. Webster Square is an exceptional example of modern adaptive reuse paired with timeless architectural character.”
Redeveloped from the former Lincoln Park Hospital site, Webster Square transformed the property into a modern residential and retail destination in the heart of Lincoln Park. Each apartment features stainless steel appliances, stone countertops, hardwood flooring, vaulted ceilings, and skyline views. Amenities include a rooftop terrace, sundeck, fitness center, business room, and bicycle storage, along with full elevator and wheelchair accessibility.
The Webster Square sale reflects Triton Realty Group’s focus on connecting the right capital with transformational properties,” said Harrison Cohen. “This asset exemplifies what today’s multifamily investors seek: scale, design integrity, and a location that defines Chicago’s urban lifestyle.”
Transaction highlights include:
• Sale Price: $35,750,000
• Property Composition: 75 luxury apartments above four ground floor retail spaces
• Buyer: Bill Silverstein, owner of BEAL Properties, a private real estate office
• Seller: Sandz Development
• Representation: Triton Realty Group, dual agency
• Closing Date: October 15, 2025
Beyond its scale and price point, the sale is significant for its market timing. The property’s success reflects sustained investor appetite for adaptive reuse projects and mixed-use developments in Chicago’s core neighborhoods. As new capital continues to pursue quality multifamily assets, Lincoln Park remains one of the city’s most stable and desirable submarkets.
Triton Realty Group’s marketing strategy emphasized Webster Square’s blend of residential quality, retail exposure, and neighborhood integration. The firm’s deep investor network and data-driven positioning attracted a diverse pool of qualified buyers and led to a competitive process that concluded with the successful transfer to BEAL Properties.
Read the full story and transaction details at https://www.tritonrealtygroupllc.com/success-stories/558-w-webster.
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 over 450+ transactions totaling more than 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/
Video URL: https://youtu.be/h2bOnuMQkpw?si=GnGNSoJifiGwoGc4
Release ID: 89173634
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