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Chicago & Midwest  + North Side  + Apartments  | 

Avondale Multifamily Garners $3M

Interra Realty arranged the $2.9-million sale of 3124-28 N. Kimball Ave., a 16-unit building in the Avondale neighborhood on Chicago’s Northwest Side. The price per unit was $181,250.
 
The firm’s Brad Feldman represented the undisclosed seller. Interra’s Joe Smazal represented the confidential buyer.
 
“This is a sizeable building to be trading in the trending Avondale area, so we weren’t surprised it attracted substantial interest and a good price per unit,” said Feldman. “We had a buyer under contract before COVID-19 hit, but he walked due to the uncertainty around the pandemic. We were able to resurrect the deal with a new buyer who offered a competitive price to the initial deal.”
 
Feldman’s relationship with the building dates back to 2014, when he represented the current seller in purchasing it for $2 million, which means his client realized almost a 50% gain on the property in six years.
 


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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