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Interra Brokers Pair of Chicago Multifamily Transactions
Interra Realty has brokered the sale of two separate, fully occupied multifamily properties in Chicago.
An eight-unit apartment building at 5130 S. Greenwood Ave. in the Hyde Park neighborhood sold for $2.92 million, and a 17-unit rental community at 6251 N. Talman Ave. in the city’s West Ridge neighborhood sold for $2.21 million.
Interra Senior Managing Partner Brad Feldman represented both the 5130 S. Greenwood buyer, a local private investor, and the seller, Barnett Capital. For the 6251 N. Talman transaction, Feldman procured the buyer, a local private investor, and, along with Interra Associate Kevin Rahmanim, represented the seller, a local family-owned LLC.
At $365,000 per unit, the 5130 S. Greenwood transaction represented the highest price per unit for vintage apartment buildings in the city’s Hyde Park neighborhood in the last five years. “Quality properties on Chicago’s North Side continue to command strong investor interest, especially those offering a value-add proposition,” Feldman said.
