35-Unit West Ridge Mixed-Use Sells for $4M

Interra Realty closed on another sale in a burgeoning neighborhood on Chicago’s North Side. The firm brokered the $4.1 million sale of a 35-unit mixed-use multifamily building in West Ridge.

Located at 2801 W. Lunt Avenue, the building includes 28 one-bedroom and three two-bedroom units and four ground-level commercial spaces. This is the second property Interra has transacted in West Ridge in the past month after 6254 N. Whipple Street, a 16-unit apartment building, sold for the first time in over 50 years for $1.8 million.

Interra Managing Partner Patrick Kennelly and Managing Director Paul Waterloo represented the buyer, Teko Menetti. Senior Managing Partner Joe Smazal represented the seller, a local private investor.  “The fundamentals for vintage assets like this one are very strong in Chicago – and will be for some time – as there is a lack of new supply fulfilling the growing demand for workforce housing,” said Smazal.