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Kenwood Apt. Sale Posts 10-Year High for Per-Unit Price
Interra Realty brokered the sale of 4740-48 S. Greenwood Ave., a four-story, 31-unit rental community in the South Side’s Kenwood neighborhood. The asset sold for $5.575 million, or $179,839 per unit, which was the highest price per unit for a single property in Kenwood in the past 10 years, according to CoStar data.
Joe Smazal, senior managing partner at Interra, represented the private seller, while associate Harrison Pinkus represented the private buyer. The building’s apartments were fully occupied at the time of closing.
“Investors are actively seeking deals in Kenwood and other fast-growing submarkets on Chicago’s South Side,” said Smazal. “This gut-rehabbed building with modern finishes and vintage charm is a rarely available asset situated in a historic area of Kenwood surrounded by mansions with large, deep lots.”
Built in 1922, 4740-48 S. Greenwood offers 12 one-bedroom and 19 two-bedroom apartments, each with one bath.
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