Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Chicago Developer Snags Apartment Building in Bucktown
Interra Realty brokered the $1.25 million sale of a six-unit apartment building in Chicago’s Bucktown neighborhood. The transaction equated to $208,333 per unit. Interra Senior Managing Partner Brad Feldman and Director Harrison Pinkus represented Marc Realty in the sale. Feldman and Pinkus also represented the buyer, Chicago-based Base 3 Development.
“The property has an excellent location in the heart of Bucktown and was in great shape, but still provides an ability for the buyer to do some light updates and drive the rent roll further,” said Feldman. “We had a lot of interest and multiple written offers as investor demand for stabilized, well-located assets remains strong.”
Located at 2102 N. Damen Avenue, the property includes three one-bedroom, one two-bedroom and two three-bedroom units. Each apartment features hardwood floors, in-unit laundry, as well as individual HVAC and hot water heaters. The property also has recent upgrades to its electrical and plumbing systems.
