Interra Realty brokered the $1.5-million sale of 4520 S. Vincennes Ave., an 18-unit apartment community in the South Side’s Bronzeville neighborhood. The price was $83,000 per unit.
Managing partner Lucas Fryman, co-founders and managing principals David Goss and Jon Morgan, and associate Sam Gutierrez represented the private seller and confidential buyer. The seller had owned the circa-1891 property since 1991, originally redeveloping the building using low-income housing tax credits. The buyer plans to modernize units as they turn over.
“Bronzeville has become one of the most desirable submarkets in Chicago because of its rich cultural history, proximity to downtown and the lakefront, and several large-scale developments that are expected to catalyze investment in the area,” said Fryman. “We were able to successfully market the building to a wide range of prospects, creating a competitive bidding scenario with multiple rounds of negotiations, all without a formal asking price.”
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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