Triton Realty Group, a multifamily and mixed-use brokerage headquartered in Chicago, confirmed the $35 million sale of Webster Square Apartments, a prominent property located at 558 West Webster Avenue in Lincoln Park. Company principals Matthew Fritzshall and Harrison Cohen represented buyer Bill Silverstein of BEAL Properties and 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.