Interra Brokers Sale of Wicker Park Apartment Building

Interra Realty has brokered the $4.625 million sale of a 10-unit apartment building in Chicago’s Wicker Park neighborhood.  The transaction totaled $462,500 per unit price. Interra’s Senior Managing Partner Brad Feldman represented the seller, a real estate operator for whom he brokered the original acquisition in 2021.

He also sourced and represented the buyer, a Chicago-based investment group that assumed the existing loan as part of the deal. The building was constructed in 2020 and fully occupied at the time of sale. “The inclusion of the loan assumption helped sweeten the deal, given the current interest rate market, and our marketing campaign led to a dozen tours and multiple offers in a short period,” said Feldman.

The boutique property, located at 1220 N. Bosworth Avenue includes four one-bedroom units, four two-bedroom units and two four-bedroom duplex units, all of which feature in-unit laundry and balconies.